What's a good available interest rate for a savings account?

2.5-3% would be about the best you can get. Go to bankrates.com and compare.

The answers given by the other correspondents look good - those are the sort of figures that I would have suggested. You can get more if you want to tie the money up in a fixed rate account. Remember that you have a £5,100 p.a. cash ISA allowance so if you didn't need instant access to this money, you could put it in a cash ISA and it would be tax free, year on year on year. Remember that on a savings account you will pay at least 20% tax unless you are a tax payer

Disclaimer:

The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.unbiased.co.uk/

Jason Witcombe, Director, Evolve Financial Planning

Jason Witcombe is a director of Evolve Financial Planning, the UK's first Chartered Financial Planning firm. As both a Certified Financial Planner and Chartered Financial Planner, he is one of the UK's best qualified financial planners.

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