I need to find a savings account for about 6-8 months, maybe a year at a push, I've been keeping an eye out and this seems to be the best interest rate at the moment:

I'm new to this so have quite a limited knowledge of savings account. I will obviously create an isa for my wife and myself but as we've just sold our house we have quite a bit of equity to save. Is this the best way to accumulate interest of our savings?

any help would be much appreciate.


CHELSEA BS

Type of account: Notice
Annual Equivalent Rate (AER) and gross interest rate:
Balance AER Gross Net
£250 6.40% 6.40% 5.12%

Rate Type: Variable
Interest Paid: Yearly
Withdrawal Access: Withdrawals are permitted subject to 30 days' prior notice. Immediate withdrawals can be made subject to a penalty equivalent to 30 days' loss of interest on the amount withdrawn.
From 20th March 2009 withdrawals can be made notice and penalty free.
The minimum withdrawal amount is £250.
Investment Conditions: Minimum investment £250. Maximum investment £250,000. Interest will not be paid during a period when the account balance falls below £250.

Other information:
The interest is guaranteed to be no lower than the Bank of England base rate for the first 12 months. Following this the rate is guaranteed to be no lower than 0.25% below the base rate until 19th March 2009.
Interest will be paid on 1st June 2008 and then annually on each anniversary of that date. Interest can be added to the account, transferred to another account or transferred to a nominated bank account.

It's at the very end of your requirements scale (1yr bond) but 6.9% is a good rate (5.52% net):

http://www.angloirishbank.co.uk/personal/f...nd-accounts.asp

60 day forfeit of interest if you cash in early - plus their T&Cs say early withdrawals are 'in an emergency only - at their discretion'. Seeing as my student loan is now at 4.8% and my ICEsave account only comes in at 4.96% net I'm almost certainly going to put down some money with AIB. As for tying up the money, I don't see myself buying a house within the next 12 months.

They don't allow further top-ups once your money is in though, so watch out.

I would be a little worried about Anglo Irish, Northern Rock and the like. Another Mortgage Lender just went bust, Victoria Mortgages.

I'm not saying they will, as I don't know, but I would be worried about going over the FSCS limit, as the two mentioned are agressive mortgage lenders depending on market rates which have shot up!

Ok, thanks to both of you for your opinions, I see the HSBC are offering a 3 month bond @ 7% wow that's good! And I guess as they're a bank there's more chance they will ride the wave?

I just phoned HSBC. I know they are one of the biggest banks BUT did you know the 7%APR is with their offshore side AND none of your money is guaranteed?? Not UK based, so not authorised by the FSA. I was surprised, but thats what they just told me

I'm just looking into term bonds and I see a lot of 6 month bonds turning up in the best buys. I don't remember seeing this when I was looking a few months ago.
Anyone think there are an unusual amount of 6 month bonds available to retail investors?
Norwich and Peterborough, Halifax, Bank of Scotland, ICICI, Bradford and Bingley (5 months) among them.

Application form arrived today. Will be filling it in this evening.

In the post tomorrow, thanks Christ!

Nice one, bulltrader, see you at the London branch when it all goes pete-tong! Kidding.

You have to post them a cheque as your payment is that right?

I'm dallying over this one a bit. Not due to any concern about the company, but rather due to the realisation that I might creep into the 40% tax band this year if things continue to go well, which would make the NS&I IL certs a better option. I suspect Anglo Irish will withdraw this offer soon though as money markets calm down too. I suppose I could open the account in Mrs Christh's name though. Ah I'm too young to have to do this stupid tax-juggling.

Cheque went by recorded delivery today! 5.52% net ain't bad is it!

The tax angle is a bit of pain, but hay that's life!

Also opened up a short term e saver with B & B @ 6.4%, that's reasonably good yes?

I'm just looking at short term savings accounts, and Halifax are offering 6.88% AER for 3 months (£500 min). Great if you already bank with them. I might whack all of my cash in there when I next get paid.

Also, I'm thinking of a year term with ICICI (as I already bank with them) @ 6.75% AER. I think this may be a good idea for a few k just in case rates drop.

have you a link to this please?

http://www.halifax.co.uk/savings/personalr..._rate_web_saver

ta