Does a savings acc exist where I can deposit whenever but only withdraw after a date

demo84demo

Does a savings account exist where I can deposit whenever but only withdraw after a certain date?

I have searched everywhere and always thought this would be a no brainer.

Any help you can provide is greatly appreciated.

Hominu

No, but you can get accounts where you need to close the account to access the funds (and may incur a fee for closing said account that may be more than the interest received).

G_M

Most savings accounts can be added to at any time, other than 'Fixed Rate' accounts (eg for 2 pyears) or 'Regular Savers' which you must add to each month at a secific amount.

As for " only withdraw after a certain date?" that's easy. It's called self-control!

xmodz

what about a bond, you can keep regularly putting money in and you will only get it when it matures

opinions4u

xmodz wrote: »

what about a bond, you can keep regularly putting money in and you will only get it when it matures

Do you have a specific example?

These creations tend to be few and far between.

Lloyds TSB FRISA is the only one that leaps immediately to mind.

Reaper

How about a notice account? If self control is a problem then having to give a month or two notice before being allowed to withdraw would prevent impulse spending. Here's some:
http://www.moneysupermarket.com/savings/notice-accounts/

G_M

xmodz wrote: »

what about a bond, you can keep regularly putting money in and you will only get it when it matures

Most bonds you cannot add to. Or perhaps only for he first few months.

demo84demo

Hi everyone, thanks for all your replies. I think a notice account is a good way to go.

brasso

Depending on your time horizon and whether you need access to all the money at a certain point, you could also consider a pension fund.

There are big cash bonuses for making payments (20-40% added by the exchequer each time, depending on how much tax you pay) and you can't touch it until you are into your 50s. You can't take it all in cash but you can have 25% tax-free immediately, followed by further cash sums in subsequent years.