Best Way

Oatcake

Ok, im about to start saving! Im looking to put away £400 a month... whats best for me?? Normal savings account, ISA.... any other ways appreciated.

Thanks
-Matt

Lokolo

Ok so you want to save £400 a month yes?

(on this site we tend to say investing meaning putting money into some sort of risk, am I right in assuming you do not want risk to your money?)

Firstly, ISAs, assuming you are also a taxpayer, these are a good way to start. ISAs carry a maximum of £3,600 in Cash a year.

http://forums.moneysavingexpert.com/showpost.html?p=4603369&postcount=1

There is a list of the top paying ISAs, with Barclays first, then Natwest (but with Natwest you need to have either a current account or savings - which you could just put £1 in - with them also).

Have a look at them and get back to us.

damien2

Hi, I work for Barclays, For saving £400 a month i would suggest putting £250 (which is the maximum) a month in a Monthly Savers account with Barclays which is paying 6% AER fixed for 12 months, and the other £150 a month into our Golden ISA 3.61% variable, as even though the monthly savings isnt tax free, even after tax you are recieving more interest on your Monthly Savings than your ISA. Both accounts are instant access should you need it.

Please note that I am not just saying this because I work there, they are the best rates on the market (as far as I know)

Good luck and I hope this was to some help.