regular saver £3000 per month

dentisteve

just wondering what accounts would be best to deposit £3000 (self employed and this is going towards tax bill) and £2000 in per month to make the best return on my savings?
currently just use esavings with nationwide and 2 6month bonds which i add to each time they mature (again with nationwide - the ebonds)

dentisteve

or is there a better way to protect my savings/interest rather than a savings account. The only thing is I will have to make a withdrawal from the tax savings 2x per year.
The other £2500 per month that can be saved is not needed to be instant access but will be needing to be able to do part withdrawals - eg holidays which i will know about in advance

stevetodd

dentisteve wrote: »

just wondering what accounts would be best to deposit £3000 (self employed and this is going towards tax bill) and £2000 in per month to make the best return on my savings?
currently just use esavings with nationwide and 2 6month bonds which i add to each time they mature (again with nationwide - the ebonds)

I'm not sure what the interest rate is now, but Halfax International allow 2k a month in their regular saver, which at the time I invested was far more than any other account (the 10% I get was also at the time a far higher rate than other comparable accounts).

lr1277

I am taken by the regular saver from Scottish building society, though I don't have an account myself.

No (advertised) maximum monthly nor total contribution limit. Though you would want to the account value to less than 50k because of FSCS compensation limits.

One penalty free withdrawal allowed per year. You can have more withdrawals, but the interest rate drops by 2%.

Current interest rate is 4% gross.

HTH.

Special_Saver2

Thanks for that information, I was not aware of the Scottish Building Society account. I am going to go and add it to my regular savings accounts thread right now.

SS2

lr1277

SS2 provides more details on his regular savings thread including correcting some information I stated in my previous posting.

I have checked the site again and it seems if you live outside Scotland, you have to maintain a minimum balance of £1000.

Details here:
http://www.scottishbldgsoc.co.uk/view_company_info.asp?fld_company_info_id=22

HTH

BritRael

lr1277 wrote: »

SS2 provides more details on his regular savings thread including correcting some information I stated in my previous posting.

I have checked the site again and it seems if you live outside Scotland, you have to maintain a minimum balance of £1000.

Details here:
http://www.scottishbldgsoc.co.uk/view_company_info.asp?fld_company_info_id=22

HTH

The only drawback for me is that it is not internet based. Deposits/ withdrawals are either in branches (all appear to be in Scotland) or by post.