5 year bond or saving scheme

Lindylou54

I want to save £100 per month to mature in 5 years, what might be the best way to do this and does anyone have any suggestions as to what is the best bond or scheme at present

Many thanks

ED

Regular monthly saver accounts offered by the following banks offer competitive rates - if you hold or open a cheque account with them :

12% Alliance + Leicester
8% Lloyds TSB
8% Norwich + Peterborough Bdg Society
8% HSBC (10% if paying monthly fee for cheque account)

Also available (less stringent rules) :

7% Halifax
7% Abbey
7% Yorkshire BS

Although all of the above will mature after 12 months, you may like to consider them for the rates. No doubt other people, here, will share knowledge re 5-year savings facilities.

baby_boomer

YBS will not mature after 12 months or any other timescale until you reach an upper limit, which I think is around £20K.

ED

baby_boomer - Well spotted! It would take over 15 years to exceed the currently set maximum holding restriction if £100 per month is deposited into Yorkshire Building Society's Regular Saver account.