# Best savings account for small money



## vickky453 (Feb 27, 2009)

Hi.

Im looking at starting a proper savings account. Im only looking at saving around £150-£200 a month, so not massive money. I was just wondering where you think would be the best place to put it? Im not really sure whether I want to put it in an ISA, as I already have money in one.

Or , is there any other alternative to savings accounts?


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## buckas (Jun 13, 2008)

http://www.moneysavingexpert.com/banking/


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## RichBate (Jul 9, 2010)

I've been looking in to this lately.

Had a bit of a pay rise so the extra money is going strait into my R8 savings 

I just opened a new current account with my bank (Natwest) - With smaller savings, i don't think i'd earn that much interest anyway. The only reason for the current account is the easy of being able to transfer money in and out.

Other people have set up proper savings accounts but some restrict how much money you can withdraw at a time.


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## Garyman (Apr 18, 2007)

Do you have a mortgage?

If so, I would make overpayments on the mortgage as it will save you significant amount and reduce the amount of interest you have to pay and the knock off a couple of years.

Boring suggestion but thats what I would personally do.


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## Beancounter (Aug 31, 2006)

^^^ Agree with the above if you don't have anything in particular to save for, paying down any debt you have is a good use of spare money.

ISA's another option as you've said, just make sure its competitive as a lot of ISA'a are only good for a year or two, then the rates drop, so always look around.

Premium bonds ? something different - guaranteed and a chance of a return!

Other options depend on how long you are willing to tie the money up for and what access you need.


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## vickky453 (Feb 27, 2009)

ive just paid off all my debts, and no, I still live with mum and dad. 

And Things like premium bonds is what Im looking at.


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## Sharpy (Mar 25, 2007)

the best one i found recently and opened was a one with santander but you have to deposit an initial £1000 into it though, also have a barclays golden hello isa which is pretty good too


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## vickky453 (Feb 27, 2009)

Ive just been doing my research, found 3.2% on regular savings, for 12 months, with Barclays. sounds like the best for me.


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