Best six month saving account?

watpoae

Hi all,

I'm planning on travelling to America in mid-June and I am wanting to open an account that I can pay a regular sum each month into (between £100 and £200) so I can save for my trip and I was just wondering what account people would recommend I use?

I currently have a mini-ISA with A&L which is at its £1500 limit so I am looking for an alternative account that I can pay into.

I will not be wanting to withdraw any money until around June 1st, and my only other need is that I can adjust the payment each month needed between the two amounts stated above.

I've searched the forums and couldn't for the life of me find anything that mentioned a six month recommendation so any help would be greatly appreciated.

Thank you.

apt

Paying between £100 and £200 into an account for 6 months isn't going to earn you much interest - less than £30. As your money ought to end up in the Nationwide anyway so you can withdraw it without charges when abroad why not open a Nationwide Regular Saver? Current rates are 5.1% if you add more than £100 net in a month, and 5.6% if adding £200-£250 per month. However these rates will drop substantially starting 1 December. Another alternative is the Skipton BS special saver currently paying 6.55% if you pay in between £10 and £250 each month. Again variable and likely to drop.

watpoae

apt wrote: »

Paying between £100 and £200 into an account for 6 months isn't going to earn you much interest - less than £30. As your money ought to end up in the Nationwide anyway so you can withdraw it without charges when abroad why not open a Nationwide Regular Saver? Current rates are 5.1% if you add more than £100 net in a month, and 5.6% if adding £200-£250 per month. However these rates will drop substantially starting 1 December. Another alternative is the Skipton BS special saver currently paying 6.55% if you pay in between £10 and £250 each month. Again variable and likely to drop.

Many thanks for the reply. Sorry if this sounds incredibly dim but do you mean that the interest rates are variable or that I need to open the account before december 1st in order to get that good rate?

Thanks

apt

I mean that the interest rates are variable. For a fixed rate you could open a Halifax Web Saver Reward - interest rate 5% fixed for up to 12 months, with a maximum of 4 withdrawals and no limit on additional deposits. If you want this you'll need to open it and put in a minimum of £50 before 1 December.

watpoae

apt wrote: »

I mean that the interest rates are variable. For a fixed rate you could open a Halifax Web Saver Reward - interest rate 5% fixed for up to 12 months, with a maximum of 4 withdrawals and no limit on additional deposits. If you want this you'll need to open it and put in a minimum of £50 before 1 December.

Thats great, thanks for that.

watpoae

apt wrote: »

I mean that the interest rates are variable. For a fixed rate you could open a Halifax Web Saver Reward - interest rate 5% fixed for up to 12 months, with a maximum of 4 withdrawals and no limit on additional deposits. If you want this you'll need to open it and put in a minimum of £50 before 1 December.

Hi

I've tried searching the Halifax website but cannot find the account you stated. Do you think its been changed or am I looking in the wrong place?

This is where I looked: http://www.halifax.co.uk/savings/onlineaccounts.asp

Does anyone know of places doing a good fixed rate, or alternatively ones with a variable rate of over 5% for 6-12 months please?

Thanks

Baldur

watpoae wrote: »

This is where I looked: http://www.halifax.co.uk/savings/onlineaccounts.asp

Try http://www.halifax.co.uk/savings/websaverreward.asp