About Saving accounts

Ciaran124_2

I would just like to know a few more questions about saving accounts and how they work.

I wanted just to put away a small amount of around £1000 or so.

What would be the best saving account for a year or even two years saving account?

Would I be better to save up to £2000 and put it into a savings account?

Also after an account is opened is it possible to store more money into the account for the same interest?

:money:Thanks to anyone who replys! :money:

Reaper

There are different types of savings accounts.
Fixed term - these last for a set period of time (1 - 5 years) usually for a fixed rate of interest. They tend to be available only for a short time and you can not add to them after the first deposit.
Easy or instant access - you can add or take out money whenever you want. Interest rates vary over time but tend to be lower than fixed rate ones.
Notice accounts or other restrictions - you normally have to either give them warning you want to take the money out (typically 1 -6 months) or there are other restrictions (eg maximum of 4 withdrawals a year).
Regular savers - typically last a year. You add a fixed amount each month and get it all back at the end of the year.

Once you have decided how much flexibility you need you can look at the best buy tables to find the best one that meets your requirements. You might also find the Savings article on this site helpful:
http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Ciaran124_2

Thank you very much! Look to be honest I wont really not to withdraw any money within a year or so, just because crrently in school with a part time job, I have some money siiting doing nothing and was just wondering weather there was something I could do to help build it up slightly. As it is better than nothing.

Also I will read the link a bit more thanks a lot!