Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • fuzzgun19
    • By fuzzgun19 10th Jul 17, 3:25 PM
    • 6,729Posts
    • 54,385Thanks
    fuzzgun19
    Any interest for 18yr old with 5k, no hoops?
    • #1
    • 10th Jul 17, 3:25 PM
    Any interest for 18yr old with 5k, no hoops? 10th Jul 17 at 3:25 PM
    My 18yr old has a Natwest adapt, a Nationwide flexone, and Nationwide junior ISA.

    Now the NWide have matured, he has about 5k sitting there with next to no interest.

    I was hoping Tesco still had their account, but it looks like you now have to jump through hoops to get the interest.
    He has just started employment.

    Probably a silly question, but I was hoping there was a basic account he could just have the 5k sit in.
    I Hate Jobsworths!!!
Page 1
    • xylophone
    • By xylophone 10th Jul 17, 3:36 PM
    • 22,054 Posts
    • 12,719 Thanks
    xylophone
    • #2
    • 10th Jul 17, 3:36 PM
    • #2
    • 10th Jul 17, 3:36 PM
    Can he open a Nationwide Flexdirect? (£2500).

    He might then open a Flexclusive saver.



    He might open a couple of Tesco savings accounts for DD purposes.

    He might open a BOS Vantage account (use Tesco savers for DDs) and deposit £2500.

    He could cycle in/out the required monthly £1000 to Flexdirect from the BOS account.


    He could transfer the cash from the Flexdirect to BOS at the end of the 5% year.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

201Posts Today

1,235Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin