Dripfeeding - is this the best option??

bunty2

Hi
I wonder if anyone can confirm my line of thinking is the best action to take?
I have £65000 that i potentially may need access to should we move home. If i were to deposit £50k into the 3.25% egg account and drip feed £500/mth to the Halifax Reg saver at 5%, and also the Buckinghamshire 6.25% this will give me apprx £40 extra interest over 12mths rather than leaving all in the Egg account. I used the calculator, hopefully in the correct way!!
However in addition to this i cant see that there is anything to prevent opening another two of these regular savings accounts in my husbands name? The remaining £15k from the lump sum could go in my husbands name in a second Egg account or find another high interest account.
This is all very exciting trying to make the most of what you have got, if not a tad taxing!

CLAPTON

Do remember to use tyour ISA allowance if you are taxers.

there is indeed no reason why you can't open accounts in both your name and your OH

many people have lots of regular savers... but you do need to remember to get out a bit too

simpleguy_blr

Hi,

Is there any way by which we can setup a standing order from the Egg Savings Account to transfer money into my Halifax Regular Saver?

Or do we have to manually log in and transfer money on a specified date, I think it takes 3 days to move money to Halifax from Egg?

Cheers

Lokolo

Yes you will have to manually move the money unfortuantely.