This post does not constitute financial advice and everyone has individual needs and circumstances. Furthermore, the information in this post may become out of date. It is vital that you do your own research.
Know your Personal Savings Allowance:
Most Basic Rate tax payers can earn £1,000 per tax year in interest before paying tax, and Higher Rate tax payers can earn £500. For details about this, and the Starter Rate for lower earners, read the information on the Gov UK website.
Bank Switching Offers:
NatWest and RBS are currently offering £200 for those who switch to them. Plus both offer over 6% on their regular saver accounts.
1st Direct is offering £175 to switcher and you can get access to their 7% regular saver account.
Easy Access Account:
The current top easy access account is with the digital only bank Tandem at 3.5%.
This is followed by Chip at 3.4%.
However, you can do better with Barclays (5.12% on up to £5,000), if you are willing to open a current account with them.
1-Year Fixed Rates:
As a Teacher, you may qualify for the 4.52% rate with MyCommunity Credit Union (minimum deposit £1,000)
Get 4.51% from SmartSave (minimum deposit £10,000)
For a smaller minimum deposit of £2,000, UBL UK offers 4.5%
Best 1-Year Fixed Cash ISA:
Santander offers a 1-year (4.15%) or a 18-month (4.25%) ISA (minimum deposit £500)
Virgin Money offers a 1-year (and a bit) (4.11%) ISA
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