Best bank to open savings account with

[Z064life]

Hi


I have 29k to put into a savings account (actually 19k, 10k is already in a dedicated savings account). What would be the best place for this?


I am looking to let this money generate interest to buy a home (to live in, not let) when I am ready/married etc. As 10% is the minimum ltv (although not many do offer 10% and interest is high and there are other costs in buying a home etc), having 30k is a good start.


As this is a long term, few years plan, what account would give me the best return? I'd like to invest somewhere like a nationwide e-savings account, which lets me withdraw the money when needed (but I don't want to touch this money).

I am currently with HSBC.

Thanks

[SO27]

Most of the instant access accounts have bonus rates for a year then they drop to something pitiful, so keep an eye on the dates and ditch and switch when the bonus runs out.

Fixed term accounts tend to give better rates but you need to be able to leave the cash there for the full term really.

Other than that I'd just tend to go with whoever has the best rate on Money Supermarket or MSE. Being a savings account you'll probably not have to have that much contact with the bank anyway.

[The Leaper]

There's plenty of comments in this finance section that indicates that Santander should be avoided due to their after sales service, which I can support from my experience with using them. I have no savings there now and will avoid doing so again.

R.