Saving across accounts

ziggycj

Hi,

If I put £5000 in one fixed-rate account and £5000 in another with the same rate would the interest equal the same as if it was in one (or will they mess about?)?

I have £10,000 I want to save but I dont want to tie it all down for to long (I'm graduating so dont know what I'll be doing next year). I cant tie up all my money just in case, but in September I should have a better idea of what I can do.


I want to open one now and one when I graduate (more time to research everything).


Thanks

Vortigern

I think you may be confusing fixed-rate with fixed term. There are some fixed rate accounts which are not fixed term. Fixed rate means the bank guarantees the rate will not change for 12 months. Fixed term means you have to leave your money in the account for the whole term. Most fixed term accounts are also fixed rate. In your circumstances, you want fixed rate, but not fixed term.