Need Advice of Saving

n0131378

Hi All,

I'm new to forum, so apologies if I have posted in the wrong place.. I've been looking through the site and forum and I'm confused on what my best option is for saving a regular amount each month.

I'm looking to save £550 per month, I don't need instant access to my savings but will need access to them with 1 months notice (I'm saving to go travelling but wont be going for another 14- 16 months or so..)

I've taken a look at offering from Natwest and Barclays and they dont seem to offer anything much over the base rate....

Any ideas / advice would be much appreciated.

Lokolo

Can you definately save for 12 months, and definately save something every month?

If so, a regular saver would be best.

http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#best

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There are maximum amounts so if you want to also open up an Instant Access ISA (assuming you are a taxpayer), the savings from this will be tax free. Whereas every other savings account (outside an ISA, including the above), will be taxed at your tax rate.

thriftymomma

Barclays regular saver was a top choice not so long back. I think it was about 6.5% but you can only save £250 a month.