Savings advice needed - Would these be a good choice?

ukchriss

I have £2000 to save and was thinking of putting it in a 5 Year Fixed Rate Savings Bond with Barclays =
Balances £500+ 5.25% AER (5.13% gross p.a.)
http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=homefreegroup&value=12252&target=_self&site=pfs

Also I am looking to open a monthly savings account saving £50 a month.
Would the Barclays one be a good one?
Barclays Monthly Savings
4.25% AER



Would these be a good choice or is there anything out there with a better interest?

rb10

Five years is a very long time, but if you are happy having no access to it for that length of time, then that interest rate is good. Remember that if rates rise in the future, you are locked in at 5.25%.

The highest rate Regular Saver is Halifax, at 5%, but if you are only putting in £50/month then the interest difference would be about £1.80.

Ifts

ukchriss wrote: »

I have £2000 to save and was thinking of putting it in a 5 Year Fixed Rate Savings Bond with Barclays =
Balances £500+ 5.25% AER (5.13% gross p.a.)
http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=homefreegroup&value=12252&target=_self&site=pfs

You might want to consider the Birmingham Midshires 5 year Fixed Rate Bond offering a fixed rate of 5.15% gross p.a/AER* for 5 years. Although your money is tied up for the full term, withdrawals are allowed subject to a 90 days loss of interest on the amount withdrawn. Might be better in case access is required to the funds.