Another HTB question

Stuoll

Hi,

I have a Santander123 with ~£7000 in it and I/we save ~£1000/month

I don't have an ISA.

Would I be better off opening a Halifax HTB at 4% and keep my savings in the 123 or a combined HTB and Cash ISA with lower interest rate?

If/when I hit the £20000 123 limit I can open another account or my wife (to be) could open a 123 as the next saving account.

Aiming for 2 years from April to have ~£24000 deposit....

Thanks for any opinions!

HappyMJ

Open 2 HTB ISA's at 4% and save the maximum amount each month into them. Save any extra elsewhere and if your short one month use your savings to transfer into the ISA's and keep them going. It's free money you may as well take it.

eskbanker

Stuoll wrote: »

I/we save ~£1000/month

Start up some 6% regular savings accounts as soon as possible for this!

Archi_Bald

eskbanker wrote: »

Start up some 6% regular savings accounts as soon as possible for this!

And the 5% ones at TSB and Nationwide

Probably also shut down the Santander 123 and replace it with some 5% and 4% current accounts, or at least "proper" 3% current accounts, like the ones at Tesco or BOS.