Right now, best account to save £1k per month?

Bravehearted_2

Please help - which one account currently is the best to save £1,000 a month?

ISA is filled.

Thanks.

MoneySaverLog

Personally I'd split it across a few regular savers as they pay a better rate that way.

Otherwise if you have to put it all in one account, just chose the top paying account and keep your eye on the rate in case it drops.

jamesd

First Direct regular saver is best for cash, paying 8% on up to £300 a month.

If you haven't really used your full ISA allowance you can get 6-8% tax free within a stocks and shares ISA, with capital value variation up and down as well.

Zekko

First Direct Regular Saver - £300/month @ 8%
Nationwide Flexclusive Regular Saver - £250/month @ 6%

There are plenty of other regular savers paying 4% for the other £450/month.

moneylover

Zekko wrote: »

First Direct Regular Saver - £300/month @ 8%
Nationwide Flexclusive Regular Saver - £250/month @ 6%

There are plenty of other regular savers paying 4% for the other £450/month.

havent you got to open current accounts and pay regular sums in to take advantage of these two regular savers?

Ifts

moneylover wrote: »

havent you got to open current accounts and pay regular sums in to take advantage of these two regular savers?

You can get away with having to have a current account with FD to benefit from their RS rate.

With FD if you have one of their qualifying products then you can have the 8% RS (qualifying products did include a savings account with them, even with just a £1 balance).

There are a couple of FD RS threads on here explaining how to get around the requirement of a current account or fee paying account just to be able to have their 8% RS (defeats the object of paying monthly fee just to have RS, as monthly fee paying account will cost you about the same as what you would get back from your RS after a year).

Not sure of the requirements (if any) for the Nationwide Flexclusive Regular Saver.

MoneySaverLog

Ifts wrote: »

Not sure of the requirements (if any) for the Nationwide Flexclusive Regular Saver.

Have their Flex-Account. Pay in £750 a month for the first 3 months or have them as your main account by switching DD's with them.

innovate

MoneySaverLog wrote: »

Have their Flex-Account. Pay in £750 a month for the first 3 months or have them as your main account by switching DD's with them.

this isn't entirely correct. For example, you also need to have a VISA debit card (not cashcard) with the Flexaccount. Full requirements:
http://www.nationwide.co.uk/savings/instant_access/flexclusiveregularsaver/?intcmp=Intcmp_1393