confused

missmental

Hi,

I am new to this board, I am usually more familiar with the debt busting boards.

Thankfully, i am now sorting out my debt and am just left with one loan for £17,000. i wanted to overpay each month to pay off sooner but they informed me that I will still pay the same amount of interest in total.

So they have advised me to put my lump sum of £4,000 & £500 per month into savings & then pay the loan off early, thus saving me about £1,000.

I am totally confused with all the different types of savings accounts available.
Please can anyone advise me where to put my money?? I estimate that I can happily keep money locked in for approx 18 months.

Thanks, Heather.

fairtrade

Would have been quicker to get a response on savings&investments forum.
For regular savings follow this link -
http://www.moneysavingexpert.com/sav...vings-accounts

missmental

Sorry,

Don't undertand all the different tpes of accounts. Have been reading about them all afternoon and remain uncertain about where to put my money.

Thanks anyway.

juicyjude

It is confusing, but if you study and do your own research and take some time to look into it, you will soon come to a decision. Good luck