Just found a good interest rate.

7 years!!! The rest might have caught up and overtaken in that time.

Santander are paying me 4% on a fixed isa for just 1 year.

Ella46 is that if you have other Santander accounts?.

Ella46

The problem is you can only put so much in an ISA.
What will you do with the rest of your savings?.

Frank

3.5% on 10.000 for 7 years , you or someone is having a good old laugh !!

Quite!

Frank, surely you are buying an ISA every year, that will gradually consume all your savings!

Frank-In 7 years time the interest rate could be 10%. I would not put money into a fixed rate account for longer than 2 years.
If one lives in or near Nottingham the rate is 4% for a year at the Nottingham BS but one has to visit the branch.
I could be 6 feet under in 7 years time.

FlicketyB

I am using my pensions to pay for the ISA.
I hope to be alive in 7 years time but I am sure my daughters will look after the money wisely if I don't spend it.
I know they have started saving to assist my granddaughters and I am helping as well.

Frank

Frank The rest of my money, is invested in various other bonds etc. and property.

Nellie, I think it must be as I do have several different accounts with them.

Ella, I didn't realise you were such a woman of means! You kept that quiet...

Ana there's enough hot air on this site without me adding to it!
Just don't tell Lil!

I'm afraid I waste my money on luxuries like food and heating oil

sunseeker

I haven't got £10,000 !

sunseeker reminds me of George Best saying he spent his money on booze, women and fast cars - the rest he wasted!

Love the assumption that everyone has at least £10,000 !

We have always invested in cash savings accounts with Skipton, but gradually moving to other financial institutions as Skipton are not currently competitive with their interest rates.

My husband's Skipton fixed-rate ISA matured recently and the best rate they could offer was approximately 1.5%. We transferred and are receiving a better rate.

To be serious about savings: if you go beyond the comparison sites you can sometimes find better rates with a local building society. The best seem to be for regular savings from about £10 per month to £250 per month. You can get around 4% which will beat current inflation.

I personally wouldn't tie up savings for 7 yrs, on a return of 3.5% but if you have no need for these funds and have other monies available in instance access for emergencies then it's not a problem. The down side with tying up is that interest rates will rise and you'll be left behind with a lower return.

123 current account with Santander offers 3% up to £20000 and Lloyds current accounts 3% up to £5000 and you can have three accounts.
Both are current accounts so easy access and you receive the interest monthly.

Moving money to get the best rates is a must, the banks love people who leave there money for years in low paying accounts because they can't be bothered to switch accounts. I have no such problem.

I'm having trouble with something here, "savings" ?

Thanks for that information about the 123. I use Santander and I am not getting that rate of interest. So next week will be down to Santander and
ask for details on 3 percent interest.

You can also get cash back if you use your Santander 123 account to pay your council tax, telephone, gas and electricity by direct debit. The 123 credit card also gives cash back on purchases.