Best savings account for £4000+ ?

ColdIron

chris9393 wrote: »

Thanks! If that's the case I could just set up a standing order from my account which currently has the £4000 in to the two TSB accounts. So instead of smacking in £2000 in straight away I'll spread it out over the year?

Smack £2,000 in each straight away then once a month transfer the cash out and straight back in again

chris9393

Thanks for all the replies guys.

Much appreciated

Eco_Miser

chris9393 wrote: »

Reading up on the FlexDirect account it says I need to pay in £1000 per month? Could I just set up a standing order of £1000 from my Halifax account to the FlexDirect account then simply move most of the money back into my Halifax account? I could then let the FlexDirect account slowly build up and up over the year to £2500 so I can benefit from the 5%.

You could, but you would be better off if you put the £2500 in at the beginning and left it there for a year, moving £1000 in and £1010 (includes interest) out every month.

currently, you can get 5%AER on £6500 over three accounts. I don't suppose it matters which which one you use to add the £500 a month for 5 months.