best regular saver

foxybabe

i have just changed from part time to full time and want to put some of the extra money into a regular savings account but am unsure of the best one, or whether there is anything else which would be better. I am looking at putting £400 per month into it. I don't want to tie it up as i would like to get to it incase of emergencies or any unforseen expense. Has anyone got any suggestions for the account.

Many thanks

jimbow25

There aren't loads of astounding regular savers with very high rates available at the moment (even allowing for the low base rate) but this excellent thread has a first page that is regularly updated:

https://forums.moneysavingexpert.com/discussion/608697

I think something to consider is how strongly you want to avoid tying it up - a lot of accounts will let you access the money in return for closing the account and getting lower interest - is this enough protection for you?

e.g. if I had an emergency I could accept losing 5% interest on a few month's savings, if it meant getting the money.

Also it's worth considering using your ISA allowance before going for an account like this and whether you think the extra admin hassle of a new account is worth it (4% interest on £400 per month in to a monthly saver, after basic rate tax is only £83 i.e. for comparison, about £30 more than a 2.5% no strings attached account).

foxybabe

Thanks for that, I have got an isa which I could probably set up a direct debit to pay the money into. thanks for the info and the link, I'll have a nosy through it.