We want to know where we can get a good interest without being part of the bank or BS concerned?
| Related: | Personal Finance•Debt & Financial Difficulty•Financial Difficulty |
Answers (1)
Hi Saraleh, and welcome to the forum.
Could you please explain what you mean by 'without being part of the bank or BS...?' Do you mean having just savings alone with a bank or BS? Or perhaps you mean something else? If you can be a bit more specific, members may be able to suggest some ideas... :-)
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Hi Fruit cake, thanks for asking specifically. I mean that all of the really good interest rate banks, like First Direct, HSBC and so on WON'T give their great rates to an outsider - you HAVEto be a member of the bank! We need to find a really good interest rate [eg 5% [+ ] would be good] from a bank of which we are not members?
Is this clearer I hope?
Hi Saraleh, thank you for the details. I'm guessing you're referring to some 'regular saver' type bank accounts where you have to have a current account with the bank to qualify.
Have you considered a Fixed Rate Savings Bond? Some of the building societies are offering fairly good interest rates and you don't need to already have an account with them. I don't think anyone is offering interest rates of over 5%, but the Coventry BS is offering 4.75%. Here's the money.co.uk link to the Top 10 Fixed Rate Bonds...
http://www.money.co.uk/savings-accounts/fixed-rate-bonds.htm