Posts

Showing posts from May, 2017

How to Earn 4.2% Interest on £15000 savings using Bank Accounts

Can you Earn Over 4% Interest on £15000 risk free? After repeatedly trying to help readers of This is Money to get decent rates on their savings and repeatedly being told I'm lying that I can earn decent interest on £15000, I decided to spell out exactly how it can be done. You do need to open accounts but to get 10x the rate available on a cash ISA seems worthwhile to me. You can even use variations to suit the amount of money you have and even drop the number of accounts or regular savers if you want less hassle. There are a number of current accounts paying interest, some vastly higher than any savings account. As of today, Tesco Bank pay 3% on £6000, TSB pay 3% on £3000 and Nationwide pay 3% or 5% depending on the account but £2500 in each account. For a couple you can do even better and get £7500 at 5% with Nationwide for 1 year. Regular saver accounts There are some savings accounts where you commit to paying a regular amount each month and the bank will pay a high rat