savings deals..

[chimpy]

Hi guys... I have been saving money and am now looking for the best place to put it for a year (whilst hopefully adding to it )...some one suggested an ICESAVE account. Or do I just look for the best bank or building society account...Thanks..

[dzug]

ICESAVE are a new (to the UK) bank operating on similar lines to Ing and ICICI.

The only problem you may have is that as they are new there may be teething problems with their computer systems. They are not going to run off with your money but if you are unlucky it might get 'mislaid' for short periods if you can't logon for example.

[yolande]

If you use moneysupermarket.com they will be able to find a good one for you.

[stuart100]

If you want a more established financial institution, Birmingham Midshires offer decent rates on their internet/phone savings accounts

[WendyS]

You can put up to �3000 in each tax year into a cash ISA and if you're a taxpayer it makes sense to use this yearly allowance as you won't pay any tax on your interest. (which is usually deducted at source at 2%) You can always close the ISA account at any time and draw your money out. The problem with the newer high interest paying bank accounts likje ICICI and ICESave is that they are innundated with new customers and their admin is often very poor in the early months. I'd try somebody like Birmingham Midshire BS or Kent Reliance BS. If you bank with Barclays you can save up to �250 a month into their Regular Saver Account for a year and get 10% interest, but you need to have a current account with them first. Some of the other banks offer similar accounts.