Sanatnder's Fixed Rate monthly saver account

londoner1998

hello

I am planning a trip to India and want to be a bit more serious about saving money, in general. I got a promotion at work in May and have a tiny bit more disposable income in those months when I have no 'surprises' so I want to make sure I put something away that I won't touch.
Researching Martin's articles I came across this account- it is by far the best rate I have come across and I am ok with locking the money for 13 months- anybody has had experience of it?

I am with A&L and so I am familiar with the customer service(although I haven't had shocker experiences yet)- shodul I got for it?

Thanks,

A

donkingkong

Go for it. I've just opened up a Super Fixed Monthly Saver @ 5% gross and a Fixed Rate Monthly Saver (Issue 12) @ 4% gross over the phone. Process was easy and took maybe 15m each. Forms with all account details were sent in the post and that was that.

rb10

If you are under 35 and do not own your own home, then the First Home Saver may be better ... interest rate is 5% variable and you can pay in £100-£300 per month.

Only downside is that you have to have a mortgage interview with Santander before you can close the account. (Although you can just tell them that you're not ready to buy a house yet!)

Milarky

The Norwich and Peterborough E Regular Saver is better option for the OP because it allows one penalty free withdrawal, variation of monthly amounts (and dates!) and still pays 4%. And after a year it will still pay something over 1.5%. The Santander product is not as flexible. (In MSE terms, we would say it's degree of difficulty is greater.)

londoner1998

rb10 wrote: »

If you are under 35 and do not own your own home, then the First Home Saver may be better ... interest rate is 5% variable and you can pay in £100-£300 per month.

Only downside is that you have to have a mortgage interview with Santander before you can close the account. (Although you can just tell them that you're not ready to buy a house yet!)

I thought about this too. I am 35... :-( I probably don't qualify for this, do I?

A

londoner1998

donkingkong wrote: »

Go for it. I've just opened up a Super Fixed Monthly Saver @ 5% gross and a Fixed Rate Monthly Saver (Issue 12) @ 4% gross over the phone. Process was easy and took maybe 15m each. Forms with all account details were sent in the post and that was that.

With the Super Fixed one @ 5% , do I need to put in at least 1K? My main current account is with A&L.

Thanks, A