Investment Confusion!

tb1105 · 2 February 2009 at 2:08PM

My other half and I are saving for a deposit on a house.
He has a current account with Lloyds and puts £300 into his online savings account each month. He has £3k in it at the moment. He used to have it in premium bonds but it sat there for 4 yrs doing nothing so he drew it out.

I am a postgrad student and put lumps of my student loan in a cash ISA as I get it but graduate this summer. I currently have £1k in my ISA and will be putting another £1k into it in April.
As of September, I hope to have my first full time teaching post on £20k salary and plan to put away £700 a month. Other half will be putting away £500 a month.

Any advice on where we can put it risk free? We want somewhere with a good rate but are completely confused at all the different things available, or are we best just putting into our bank online savings accounts (mine is Barclays, his is Lloyds)?

Thanks in advance,
Toni

Lokolo · 2 February 2009 at 2:10PM

If you can definately save an amount every month then a regular saver is best because the rates are usually best for these.

You can usually find the best rates here: https://www.moneysupermarket.com/savings

Robert_Sterling_3 · 2 February 2009 at 2:23PM

Regular Saver Accounts are OK but you usually can only put in £250 per month. Principality and Halifax allow £500 per month.

Re "A good rate." This is a bit vague.

tb1105 · 3 February 2009 at 9:42AM

Thankyou, so regualr savers offer better rates than your online savers accounts...

Robert_Sterling_3 · 3 February 2009 at 10:38AM

You can have an online regular savers account.

Investment Confusion!

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