Spring Heeled Jack

Been looking around to get a better return on my savings than my current savings account. I would want to transfer the interest (or less) monthly into my current account to live on without incurring any charges, and move amounts in and out freely to my current account without charge.

There's ING Direct offering 4.5% and ICICI Bank claiming to offer 5.15% from their HiSave account (though I'm no sure there aren't hidden catches yet).

http://www.icicibankukpromotions.com...erType=G_SA_TL

Does anyone know of anything better out there?

Also I'm told that the following calculation will give me an accurate estimate of what an account would yield per month, can anyone confirm that this is correct? -

the amount x 0.045 (the interest rate) / 365 (days in year) x 30 (days in month)

Thanks in advance.

Jack.

Remster

Jack,

I've just been through all this myself and settled on Bradford & Bingley - 4.85% AER. The ICICI A/C has many bad reports about it if you do a search taking ages to open etc. The B&B account is instant access with no penalties/lost interest for withdrawals. Linked to my current account, this is the best overflow option for me.

Hope that helps.

Spring Heeled Jack

Cheers. Thought the ICICI might be too good to be true. Just found that I can get 4.75% with my current bank. Though there are some restrictions there's nothing that can't be worked around.

B&B sounds promising too. Is it completely unrestricted in terms of moving money in and out, and can you do it yourself online?

J