Monthly Saving

Jonisilva

I would like to save £2500 per month for the next 3 to 5 years. I have tax free status. Could anyone advise which would be the best place to put my money?

Jake'sGran

There are some fixed rate accounts that let you add to them. I have just opened an account with Lloyds TSB and noticed in the T&Cs they say you can add to your bond after your initial payment. I would prefer this to using a typical monthly saver. The one I opened will run for three years at 4.1% but five years with be even better.

opinions4u

Jonisilva wrote: »

I would like to save £2500 per month for the next 3 to 5 years. I have tax free status. Could anyone advise which would be the best place to put my money?

Please explain in what way you have "tax free status".

Sceptic001

opinions4u wrote: »

Please explain in what way you have "tax free status".

I was wondering the same thing, but was too polite to ask :rotfl:

savetilibleed

Jake'sGran wrote: »

There are some fixed rate accounts that let you add to them. I have just opened an account with Lloyds TSB and noticed in the T&Cs they say you can add to your bond after your initial payment. I would prefer this to using a typical monthly saver. The one I opened will run for three years at 4.1% but five years with be even better.

You can only add to that LTSB account while it remains on sale, and the additions have to be made by cheque. Even though it is called an eBond it does not operate by Internet Banking, PhoneBank, or branches. There is also a dedicated phone line for it. See http://www.lloydstsb.com/savings/ebond.asp

opinions4u

savetilibleed wrote: »

You can only add to that LTSB account while it remains on sale, and the additions have to be made by cheque. Even though it is called an eBond it does not operate by Internet Banking, PhoneBank, or branches. There is also a dedicated phone line for it. See http://www.lloydstsb.com/savings/ebond.asp

It has the whiff of Birmingham Midshires all over it!

savetilibleed

opinions4u wrote: »

It has the whiff of Birmingham Midshires all over it!

Ah-ah that explains everything!!! YES I'm sure you are right!

2-3 days ago I was looking at this LTSB eBond and I must have hit the apply button and went no further.

Then two days ago I went to go to my Saga account. I hit the login button on the Saga page and was presented with a rectangular login box the same size as Saga and with the same fields, but different colours AND with LTSB savings at the top, not Saga. I had a problem getting in with it asking for an access token. I emailed Saga about this and the next day it looked OK again though it still asked for an access token. My email in the meantime had been referred to their savings team and they were going to contact me directly. On 12 June, I phoned them and it seems my password which had always been the same 12 characters was too long and needed to be between 6-10 characters. Apparently it took then years to realise this. Strange though as my 12 digit password word previously and they realised the problem about a year ago.

Now - the LTSB eBond - on reading your answer above, I went to the LTSB eBond info today, clicked apply and no further then came out of the LTSB site. Then to Saga, to Login - and - lo and behold exactly what I described above - a Saga looking login screen with LTSB Savings at top :eek:

I had a similar problem before with trying to sign to Birmingham Midshires (by accident) and when I went to Saga I got the BMids screen. Phoned Saga who said delete cookies which worked ok.

After today going to LTSB eBond and getting LTSB/saga/BM style I went to my cookies and just deleted all the LTSB and Saga cookies and Saga was restored once more.

So that's it then - thanks - I can tell them if they can't tell me - and you are right I'm sure so solve a mystery! Actually on clicking the LTSB eBond Apply button, you even get a picture of padlock and 'safe and secure' text on the right of the screen just as you do but in blue with Saga.

:T:T:T:T