Advice required on saving £100 per month for 5 years minimum

Dexty

Hello

I am a complete novice to the financial world and would like advice on saving £100 a month for a minimum of 5 years with the flexibility to withdraw after 5 years if I want.

As stated, I am a novice and would be grateful of some simple advice

Thanks

colsten

You could start off with a Regular Savings account for a year. They pay between 4% and 6% interest.

At the end of the year, empty the account into a simple interest-paying current account (e.g. Tesco, TSB), and start another Regular Saver, drip-fed from the current account, and from your usual £100.

Rinse and repeat each year.

Sam_J12

I agree with Colston! First Direct and Marks and Spencers do 6% regular savers, which I think are the best on the market.