Need a good savings account

Gareth1979

Having finally paid off my many debts Im now hoping to save for a deposit for a house.

I dont currently have any money but am looking to put away about £140 a week. More than a great interest rate Im more looking for a plan that will take the money directly out of my bank each week and will restrict my access to it at least in the short term. If I can get at it I'll spend it so ideally I'll have to give a months notice, maybe even 3 to get access to it

Any ideas what my best bet is?

xylophone

Have you thought of switching to First Direct so as to be able to take advantage of the Regular Saver? http://www1.firstdirect.com/1/2/


Or you might want to look at the Newcastle BS Big Home Regular Saver?

http://www.newcastle.co.uk/savings/cash-isa.aspx

virtuallyfree

You will want the highest interest rate that you can get.
Go to your bank and see what they can offer you first.
If their rates are poor then tell them you will be going to another bank as they have better rates, they may up their rates. They can do this in branch.
They are bound to have a product that will fit.

Vortigern

You need a regular saver.
See this thread https://forums.moneysavingexpert.com/discussion/608697

thick_tom

i prefer the post office savings account.

VfM4meplse

thick_tom wrote: »

i prefer the post office savings account.

But rates are appalling

atush

Regular savers are good as some hard hard to get into once started w/o losing all your interest.

And I understand your wanting to keep the money out of your (formerly lol) spendthrift hands. BUT you could go back into debt if you don't have some small portion of your savings accessible. Life does happen sometimes.

So keep a few months of your savings in an easy access acct-perhaps branch only so as to make it a little bit harder. Then put all into a regular saver.