Savings: What is my best option?

mduap

I would like to start saving £50 a month for my son for when he goes to college. Where would be the best place to put my money to ensure maximum investment without risk. We don't think that we'll be touching the money for at least 10 years but I don't wan't to be swapping accounts every year or so.

bristolleedsfan

mduap wrote: »

I would like to start saving £50 a month for my son for when he goes to college. Where would be the best place to put my money to ensure maximum investment without risk. We don't think that we'll be touching the money for at least 10 years but I don't wan't to be swapping accounts every year or so.

yorkshire building society regular monthly saver pays 7% gross variable per year and is an ongoing monthly saver so doesnt finish after a year or 2

"Key features of Regular Saver:

Save a minimum of £10 up to a maximum of £500 each month
Earn a bonus rate of interest if you save in at least 11 months out of 12 in an account year and make no more than one part withdrawal
Up to two further part withdrawals allowed per account year. Taking advantage of this facility will mean that you don’t qualify for your bonus in that year"

can pay in by standing order or in person at a branch if u have a branch nearby. Yorkshire building society tend to be fair re savings rates ie they dont tend to launch high paying accounts that soon become mediocre imho

nationwides regular saver rate on same monthly investment is 4.25 gross variable rate on someone regularly saving 50.00 a month with them ( just in case u see nationwides numerous peak time tv ads advertising their regular monthly saver

Robert_Sterling

Yorkshire Reg Sav is great ( at present ).