what is the most popular current account and a savings account? why?

Question

i want to open an current account which gives good interest in return monthly or yearly.

what is the best current account to go for and why?

what about best savings account? wish to save £250 per month. what savings account shall i go for? why?

Answer 1

LTSB do a monthly save in which you can earn 8% AER. Link below directs you to it.
www.lloydstsb.com/savings/monthly_saver.asp

Only problem with it is that the only way you can have this acocunt is if you have your wages paid into one of their current accounts.

Other than this any isa would be good. The max you can save with an isa is £3000 per year. If you choose an ISA then you just need to shop around to see which bank/building society gives the best interest (they will all probably be roughly the same). And of course with an ISA you dont have to pay the dreaded TAX on your interest.

Answer 2

Savings, i would recommend a cash ISA (tax free interest). A lot of the banks also do regular savers which are good although you cant touch the money for a year.

As for current accounts not many actually give you interest, Halifax do, but they (in my opinion are not a good bank) They dont pay bills and it takes 10 working days to clear a cheque!

I think the best thing to look for is a good savings account, and have an instant access savings account so you can always access some money separate from your savings.

Hope this helps!

Answer 3

Current accounts do not generally give any interest on your sums there.

Go for savings accounts.
ISA account is by far the best in terms of interest and it is tax free. Any bank in the world will have this offer.

Answer 4

First direct beats the rest cos you can talk directly to an english speaking person.Most current acounts hover around the same int rates but F.D couldnt be more helpfull with managing yr acounts both current and savings.