High Interest Investment

Savings accounts?

Id like to open some kind of savings account, with a small amount of money (under £50) and just let interest build up. Id also like it to be easily accessable, so i can put money in, or take it out whenever i want. Any ideas? I dont have a clue about anything money related!

Public Comments

1. i have a cahoot account. it offers a good rate and you can also open a regular account with them so you can access the money. only having 50 to start with limits who will give you what kind of account, but cahoot let you save from 1 pound. google them good luck!
2. look around who gives the best interest and ask who gives you extra !!! it doesnt matter how small your investmant from little acorns mighty oaks do grow compare on line
3. are you over 16? if not a child saver is your only option (dont worry they are great accounts high interest no tax! if over 16 then a simple instant access savings account or websaver are prob your best option as they have good rates of interest and are pretty basic money in/money out accounts if you are looking to save up to £3000 a year and not looking to make to many withdrawals a cash ISA maybe worth looking into they have the best interest as they are tax free and again they are instant access and quite basic. hope that all helps but you are best to go into your local branch and speak to a 'banking advisor' about current rates and promotions.
4. The bank will advise you of the best type of account.
5. Sainsbury's Bank - you can put any amount in and they send you a Cash Card. Me and my parents have got accounts with. Each month I pay £25 in. I have had in nearly 2 years and I am getting nearly £6 interest each month.
6. Some of the big name banks (eg Halifax) offer savings accounts for that kind of money. Usually there are ties to get the bigger interest, ie, you can not open the account with any more that 250 pound, you can only pay a maximum of 250 per month and the interest will be paid and the higher level if you do not make any withdrawls from the account in one year. When the year is done the whole amount is transferred out of the account into a standard account (with lower interest) and you start again from 0. Try the below listed websites for info on different kinds of savings accounts and best buy tables.
7. who do you bank with? If its hsbc (as i work for them i know lol) they have really good ones at the moment expecally in their january sale. with the acc plus call them!!!