Where to 5k put for at least 12months

Where to 5k put for at least 12months

Author
Discussion

Dr Murdoch

Original Poster:

3,446 posts

136 months

Thursday 28th April 2016
quotequote all
I won't need access, just somewhere to stop me touching it and will earn a little for me (appreciate it'll be about £200 if i'm lucky)

I may want to add to it periodically, although this isn't critical.

Thanks

Dr Murdoch

Original Poster:

3,446 posts

136 months

Tuesday 3rd May 2016
quotequote all
Thanks for the help.

So lets say I open a current account with Nationwide (other lenders are available) with a 5% rate. The only t&c to circumnavigate is that a minimum of £500 needs to be paid in each month. So pay £500 in on the 3rd, then pay it back out on the 4th.

All done via a standing order.

Am I missing something, as that seems an easy solution to doubling the amount of interested being offered by many savings accounts.

Excuse my naivety, but are there any restrictions in the number of current accounts a person can have?