Best Saving Accounts

newsaver15

Hi all,

I've finally managed to turn myself into a saver from a debt payer! While I do still have debt it is all on a 0% 36 month credit card and I can budget to average the payments over the 36 months from my salary to clear in this time. I also have no overdraft. I am looking to save around £200 per month and I am trying to find the best way of doing this. I have read the various MSE articles but still unsure. Any/all advice appreciated.

Cheers,

MA

SalarySlave

For £200 a month with no lump sum it would be best to put this into a regular saver. First direct offer one for 6%. Maximum input of £300 and minimum £25 per month. After a year you can move it to a high interest current account.
You will need to open a current account with them. I would advise moving you current account to them to get a £100 welcome bonus.
You need to pay in £1000 a month into this current account but you can take it back out again straight away. Also it doesn't have to be one payment. It can be 2 x £500 or 5 x £200 for example

enjoyyourshoes

If you have a mortgage look into overpaying it . If you don't have a pension look into SIPP (self investing personal pension) as you get tax relief too.

Archi_Bald

SalarySlave wrote: »

I would advise moving you current account to them to get a £100 welcome bonus

You do not need to move your current account, you just need to move an account to get the switching bonus. Any spare current account will do, even one specifically opened for the purposes of switching.