regualr saver v lumpsum

mrseyes

I have £6000 sitting in Nationwide cashbuilder account and thinking it moving to either

Principality BS 4.50%
Fixed Rate1 Year Bond
Regular £500 pm

or

Julian Hodge Bank 3.45%
3.45% 1 Year Bond Lump sum £6000

but not sure which one to put in, please someone claculate for me as to which one will give few pounds more then other. Thanks in advance.

ses6jwg

Assuming a basic rate of tax:

On the Principality RS:
After saving £500 a month for 1 year and 0 months,
you will have £6,116.37 in savings.
meaning you've earned £116.37 interest

On the Julian Hodge account:
you will have £6,168.00 in savings.

atypical

If you open a higher paying instant access account (say A&L at 3%) and drip-feed the money into the monthly saver you'll earn £182 in interest (£116 from regular saver, £66 from instant access).

And the A&L account pays £20 cashback making it £202 in total. Up to you whether the effort is worth the extra £34.