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Best interest rates

congo_90 · 2008-04-21 22:02:59

I will soon be coming into a substantial amount of money. I plan to save at least half of this. Can anybody recommend a bank with a high interest rate? Its all very confusing. thanks in advance! :D

21-04-2008 10:02pm

#1

congo_90

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I will soon be coming into a substantial amount of money. I plan to save at least half of this. Can anybody recommend a bank with a high interest rate? Its all very confusing.
thanks in advance!

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Comments

#2 22-04-2008 9:07pm

orbital83

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Join Date: December 2005

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It depends on whether you need access to the money, or if you're prepared to "fix" the rate for a year...

If looking at demand deposits, Askaboutmoney.com has a list of best buys. Some ones to think about are First Active 5.22% (make sure you keep your balance below 15K on that one), Northern Rock 5%, Halifax 5.15% on first 10K, AIB 5% on first 10K.
With all of these you can access your money on demand except AIB which require 7 days notice.

In current market conditions you may want to think about spreading a large sum of money across different banks in case any one bank runs into difficulties.

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