The best saving account

mooncaller

Hello,

Im trying to start a savings account to save up to go travelling with next year. I've been looking at different banks but have become completely confused what type of savings would best suit my needs.

If anyone has any ideas on what type of saving i should look out for or have a good savings account with someone, i would be so grateful if you could help!

Many thanks! Sarah

Lokolo

Instant access I would assume.

Do you want to pay a regular amount in each month of just random amounts here and there?

tradetime

mooncaller wrote: »

Hello,

Im trying to start a savings account to save up to go travelling with next year. I've been looking at different banks but have become completely confused what type of savings would best suit my needs.

If anyone has any ideas on what type of saving i should look out for or have a good savings account with someone, i would be so grateful if you could help!

Many thanks! Sarah

Roughly how much do you intend to save per month?.
Are you a tax payer?
If you are a tax payer, you should possibly look at an ISA first, as any interest will be tax free.
However if you are a non tax payer, student or such, you might look at these.
http://www.money.co.uk/savings-accounts/instant-access-savings.htm
http://www.money.co.uk/savings-accounts/internet-savings-accounts.htm

Be sure and check the terms, some attractive rates have restrictions on withdrawal, ie an month you withdraw you will lose some interest, or a minimum amount must be paid in every month.