Household Savings Account?

skyanjel

Hey all, I'm getting so confused with all the bank accounts and their requirements - thought it's best to get some ideas please? :search:

I need a bank account to put £100 a month for savings for the household costs longterm repair costs - Opening it with £300 then 100 each month after that (I won't be withdrawing anything from it for the 1st year to 18mths at least)

What account is the best anyone please? :undecided

Many many thanks for any replies

Fruit_and_Nut_Case

skyanjel wrote: »

Hey all, I'm getting so confused with all the bank accounts and their requirements - thought it's best to get some ideas please? :search:

I need a bank account to put £100 a month for savings for the household costs longterm repair costs - Opening it with £300 then 100 each month after that (I won't be withdrawing anything from it for the 1st year to 18mths at least)

What account is the best anyone please? :undecided

Many many thanks for any replies

How do you define "best"? Nicest online interface? Plushest branches? Highest interest? Prettiest debit card?

jimjames

skyanjel wrote: »

Hey all, I'm getting so confused with all the bank accounts and their requirements - thought it's best to get some ideas please? :search:

I need a bank account to put £100 a month for savings for the household costs longterm repair costs - Opening it with £300 then 100 each month after that (I won't be withdrawing anything from it for the 1st year to 18mths at least)

What account is the best anyone please? :undecided

Many many thanks for any replies

TSB at 5%. Easily best rate available at present but you need to transfer £500 in and out each month

skyanjel

Sorry ofcourse ... good question :T
"best" as in I would like some interest on whats accumulating in that account and the rest is not that important.

Fruit_and_Nut_Case

skyanjel wrote: »

Sorry ofcourse ... good question :T
"best" as in I would like some interest on whats accumulating in that account and the rest is not that important.

In that case, what jimjames said

Fruit_and_Nut_Case

jimjames wrote: »

TSB at 5%. Easily best rate available at present but you need to transfer £500 in and out each month

Or in the OP's case, £500 in and £400 out.

Read about it HERE.

skyanjel

Thanks all... much appreciated :j