Best savings account for fluctuating deposits

tweedledee_3

Hi all,
I work freelance and am looking to set up a savings account to deposit my tax in. This way I can earn some interest on it before I have to send off to the tax man.

The problem I have is that i need to make lots of intermittent deposits (so a fixed rate, fixed term is out of the question as all accounts that i've come accross only allow one deposit); A regular saver is also out of the question as the amounts ill be depositing will be above the regular saver allowance.

So basically, does anyone know of an account that will allow me to make unlimited deposits but still pay out a fixed rate?

pmorrison_2

tweedledee wrote: »

So basically, does anyone know of an account that will allow me to make unlimited deposits but still pay out a fixed rate?

I dont think that you will find anything to suit your needs that will give you a fixed rate. All I can think of is having multiple regular savers and paying in the maximum each month. Its not ideal as the money will be split but you will get a better return.

You could get one each from Barclays (7.75&, £250pm), Abbey (7.25%, £250pm), Halifax (7%, £500pm) giving you £1000 per month of fixed savings. The link to the article is here.

Would that be enough to cover you?

LucyTheDwarf

Except regular savers generally mature annually, and the OP will need the cash to pay his tax - so really needs instant access or a short notice period. With all this uncertainty, whatever decent account may be suggested today, may be rubbish by tomorrow!