Posted on March 8, 2010.
What is the best fixed rate savings account currently available? My Nan is seeking to set aside a little money (about £ 20,000) and we are looking for the best rate.
She asked that the account is with a well known provider and would not need to make withdrawals in the short term (1 or 2 years).
The best ideas we have today are Abbey / Bradford & Bingley's only 4% but with monthly deposits required. SAGA has a 3.5%.
Any recommendations please ... Thank you!
Do not be swayed by the responses that are really ads in disguise. (See above).
Check fixed rate bonds on the Net. Make sure it is covered by the FSCS compensation scheme for financial services. This means that if the construction company goes bust and can not expect a full guarantee of these days, but they will all, the UK government guarantees your money up to £ 50,000.
ICICI Supersave has the best rate of the day. They are covered by the FSCS but they are an Indian bank, and if the Indian government provides better protection, they must leave British protection. It is a concern that any guarantee is only as strong as the government gives it.
For total peace of mind go to one of the big names.
