Savings account for larger monthly deposits?

Ghajini

I have approx £35,000 in savings currently sitting in an HSBC online account doing almost nothing.

I am looking for a savings account that will allow me to deposit £2000 every month, for a 2 year period, and will also take the £35,000 I have saved.

Most accounts I have looked at, with a decent interest rate, seem to limit you to £500 a month deposit. Is there an account with a decent interest rate that will allow me to deposit £2000 a month?

Stompa

Ghajini wrote: »

Most accounts I have looked at, with a decent interest rate, seem to limit you to £500 a month deposit.

Can you give an example? I don't recall ever seeing a savings account that imposed a monthly limit!

Lokolo

Stompa wrote: »

Can you give an example? I don't recall ever seeing a savings account that imposed a monthly limit!

I think he means regular savers....

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OP, best best is to open a number (i.e. one with Halifax, one with Barclays etc.etc.), until you can't anymore. Then open up an instant access account, then switch this around when the rate drops.

Ghajini

If you look at the top rate regular saver accounts on this site they seem to be imposing a limit. Eg Halifax Regular Saver pays 5% but limits you to £500 a month.

KingL

You don't need to put it all in one account. Why not open up 4 x regular savers and stick the 35k somewhere else still (maybe in a faxed rate bond, if you're not going to use it).

Jonbvn

The only account that will allow what the OP requires is Halifax International regular saver. This is NOT covered by the UK deposit proection scheme.

Alternatively, you can open several regular savers with different banks/BS.

BTW, the HSBC account you have is poor. Consider opening a instant access account with Egg, paying 3.25%. Alternatively, what about opening the Investec High 5 account?

Stompa

Lokolo wrote: »

I think he means regular savers....

Ah OK, I should have realised that. But they usually (always?) only allow a fairly minimal deposit.