Student New to saving!

Davidc18

Hey

I have just started my placement year and with a salery coming in would like to start putting away about £100 a month into savings, however I have no idea what the best way to go about this is!

Currently I have current accounts at Natwest and Nationwide, but am not sure where to turn for my savings?

Would really like to be able to access the money both in a branch and online, and at anytime as i will want to use it to pay my rent in my final year back at uni!

Thanks in advance for all your help and advice!

Lokolo

http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#best

The Barclays one year Monthly Savings account pays a fixed 7.75% AER, allowing you to save up to £250/month. Importantly with this account you can miss as many monthly payments as you like without any penalty, and it allows you to withdraw cash, though if you do the interest for the following month drops to 3.03%.

Tightenthebelt

The HSBC savings account is 5.25% AER, so not quite as good as Barclays in that respect, but still worth a look. It's called the online bonus saver on their website. Do you want easy access to this money or do you want to put it away for a year or so, to let the interest accrue? You may also want to look into an ISA.

Davidc18

My hope is that I will be able to shut the money away for this year while I am at work, however I will probably need to access the account in early 2009 so I can put a deposit on the accomadation.

Apart from that one withdrawl I am hoping to save as much as possible so would like to make the most out of any interest i could get