Savings Accounts
There are two tables: the first table only shows accounts that meet our strict criteria:
- High interest rate - to maximise your return
- Instant or near-instant access - to pay credit card bill promptly.
- No penalty or limit for withdrawals
- The account can be managed by internet or phone.
- If a maximum holding amount exists, it is at least £30,000
- Introductory rates are ignored
- Minimum interest rate of 5.50% AER
The second shows accounts that have restrictions. e.g. the rate may be an introductory rate or there may be limitations on the withdrawals. The minimum interest rate in this table is 5.75% AER
| Company | Account | AER | Min | Max | Notes |
|---|---|---|---|---|---|
| The AA | Internet Saver 1 | 6.46% | £1 | £5m |
 New. Interest must be paid into another account |
| AKBank | Easy access | 6.00% | £1 | £ |
Rate down from 6.5 on 7/11/08 Phone only |
| Birmingham & Midshires | e-Saver (2) | 5.99% | £1 | £5m |
Reduced from 6.52 on 1/11/08 |
| Intelligent Finance | iSaver | 5.90% | £1 | £ |
Reduced from 6.40 on 1/11/08 |
| Newcastle BS | Net Savings 7 | 5.50% | £250 | £250k |
Down from 5.58 late Oct/early Nov |
| Yorkshire BS | Internet Saver | 5.50% | £1 | £1m |
Down from 5.7% 2/11/08 |
| ICICI | HISave | 5.50% | £1 | £ |
Rate change November 08 |
| Principality BS | eSaver | 5.35% | £1 | £1m |
Down from 5.75% 1/11/08. Initial deposit by cheque |
| Anglo Irish Bank | Easy Access 2 | 5.25% | £500 | £ |
Down from 6.4 on 7/11/08 |
| Birmingham & Midshires | Easy Internet Savings | 5.25% | £1 | £2m |
Rate unchanged 1/11/8 |
| Market Harborough BS | Onthedot 2 | 5.20% | £1 | £150k |
Down from 5.4% 22/5/08 |
| Northern Rock | e-Saver | 5.15% | £1 | £250K |
New entry on table. Announced 24/9 at 5.75. 5.15 from 1/11 |
| BMW Finance | eSaver | 4.75% | £1 | £1m |
Down from 5.25% late Oct/early No 08 |
| Birmingham & Midshires | Direct Internet Savings | 4.65% | £1 | £2m |
Down from 5.25% 1/11/8 |
| Cahoot | Saver | 4.50% | £1 | £ |
Down late Oct/early Nov. 50K to 100K 4.63%, 150-250K 4.75% |
| Egg | Money | 4.00% | £1 | £ |
Not a savings account but an all-in-1 stooz. Card and savings in one. |
| Sainsbury | Internet Saver | 3.50% | £1 | £ |
Down from 5.0 14/11/08 |
| Capital One | Base Beater | 3.05% | £1 | £ |
Down from 5.05 % 14/11/8. Base rate guarantee to July 2010 |
| Accounts which meet most criteria but have restrictions |
| Company | Account | AER | Min | Max | Notes / Restrictions |
|---|---|---|---|---|---|
| Tesco | Internet Saver | 6.50% | £1 | £100k |
12 month bonus of 1.5%. Down from 5.25 16/10/08 |
| Alliance & Leicester | eSaver Issue 2 | 6.30% | £1 | £500K |
No interest in month of withdrawal (except July). Down from 6.6 3/11/8 |
| Saga (B&M) | Online Tracker | 6.04% | £1 | £5m |
Over 50s only but straightforward instant access. Down from 6.2 3/11/08 |
| Abbey | Instant access Saver 2 | 6.00% | £1000 | £2m |
Down from 6.5 late Oct/early Nov. Includes 1% bonus for 12 months. Phn & branch |
| ING Direct | Savings | 6.00% | £1 | £1m |
Include 1.67% bonus for 12 months. Down from 6.5 15/10/08 |
| Anglo Irish Bank | 7 day notice | 5.40% | £500 | £ |
Down from 6.5% 7/11/08 |
| The AA | Telephone Access 1 | 5.11% | £500 | £500k |
0.2% bonus for 6 months. Rate down from Oct/Nov 08 |
| Capital One | Bonus Saver 3 | 4.70% | £500 | £1m |
1% bonus for 12 months. New customers only. Down from 6.5 14/11/08 |
| Bradford & Bingley | eSavings (6) | 4.60% | £1K | £2M |
Includes 12 month bonus of 1%. Rate from 16/11/08 |
| Citibank (Egg) | Egg internet | 4.50% | £1 | £100k |
Down from 6.55 Incl 1.25% variable bonus for first 12 months. For 'new to Egg' o |
| Post Office | Instant Saver | 3.75% | £500 | £1m |
Includes 1.5% bonus for 1 year. Max 6 free withdrawals. Down from 5.25 18/11/08 |
| HSBC | Online bonus | 3.25% | £1 | £50k |
Int only 1.5% in month of withdrawal/closure. Down from 4.75 13/11/08 |
Table | Savings Accounts |
What about cash mini-ISAs?
A cash mini-ISA is a special savings account in which the Government allows you to save up to £3600 per annum without paying tax on the interest earned. This means that a Stoozer could use it for the first £3600 of their Stooz money in any one year, thus earning interest without tax.
However, once you have paid £3600 into the account, you can not pay any more into the account in the same tax year ... even if you have withdrawn the original money paid in, so only use an ISA for your Stooz Pot if you are not already planning to use one for your normal savings. Besides, most Stoozers would hope to be able to build a stooz pot well in excess of £3,600! ISAs sometimes have interest rates a little higher than normal savings accounts, but we have excluded them from our tables because of the low maximum investment.
If you think that we have missed any useful stoozing accounts, why not tell us in the forums. Click HERE For details on the current Bank of England Base Rates