Best account for deposit saving
Discussion
You could do worse than get Martin's Money tips weekly emails: http://www.moneysavingexpert.com/latesttip/#tip_em... before deciding.
Amir - 2-3 years
Thanks, ive seen first direct pay 8% for 12 months with a maximum of £300 per month, but even that only gives you £125 of interest on that £3600 over the year then it reverts to a crap rate!
Besides i want to put more than £300 away, and I want to put my quarterly bonus in there which are usually a
a few k, so I guess the £300 ones are
not ideal ...
Thanks, ive seen first direct pay 8% for 12 months with a maximum of £300 per month, but even that only gives you £125 of interest on that £3600 over the year then it reverts to a crap rate!
Besides i want to put more than £300 away, and I want to put my quarterly bonus in there which are usually a
a few k, so I guess the £300 ones are
not ideal ...
Edited by okgo on Monday 15th August 22:30
Stick to mainly cash only or NS&I Inflation linked bonds as 2-3 years is not worth any high risk.
Also some of the main lenders do house deposit saving accounts where you 'may' get to benefit later.
No gurantee but maybe worth investigating & hedging your bets by putting the minimum in
e.g. http://www.nationwide.co.uk/savings/limited_access...
Also some of the main lenders do house deposit saving accounts where you 'may' get to benefit later.
No gurantee but maybe worth investigating & hedging your bets by putting the minimum in
e.g. http://www.nationwide.co.uk/savings/limited_access...
I opened a savings account up a couple of weeks ago for the exact same purpose as you. After lots of research and a meeting at the bank the only account suitable to us (me and missus) was an easy access saver with a whopping interest rate of 1.7% or something like that.
The problem we have is we will be adding anywhere from 1k-2.5k every month. So bond trackers etc are no use, much like ISA's. To be honest you'd be better sticking the money under your mattress.
The problem we have is we will be adding anywhere from 1k-2.5k every month. So bond trackers etc are no use, much like ISA's. To be honest you'd be better sticking the money under your mattress.
okgo said:
Looks okay, as long as the rate stays the same after the first year.Mermaid said:
okgo said:
So s
t then?
No, it is competitive right now, change in a years time or before if rates go up.
If it's better for you okgo, maybe start off with the FD one, and then switch in a year's time or before?
NoVetec said:
They take 0.5% from the "average balance" yearly, for the Poppy Appeal.
No..."We make a donation to the Poppy Appeal of 0.05% of the average balances held in the account for each 12 month period, commencing 1 June."
i.e. £50 if you have an average balance of £100,000. However be aware that only £85k is guaranteed, and you may want your monthly interest to be paid to another account so that the balance does not exceed £85k.
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