We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The best savings rate for granddaughter?

dutchism1958
Posts: 206 Forumite


My granddaughter is 20 and joining the RAF in 12 months.
She is renting a flat,has no debts and £2500 in savings which she may need access to.
We have looked at the best savings accounts and most require a monthly deposit of at least £500 per month.She can only afford £300 per month after she has paid her bills. A regular saver would be ideal but all the recommended ones are linked to opening a current account to get the best rates.
Cash ISA's are another option,with easy access.
I have checked the various options on MSE but cannot find anything at a decent rate.
Any advice greatly received!.
She is renting a flat,has no debts and £2500 in savings which she may need access to.
We have looked at the best savings accounts and most require a monthly deposit of at least £500 per month.She can only afford £300 per month after she has paid her bills. A regular saver would be ideal but all the recommended ones are linked to opening a current account to get the best rates.
Cash ISA's are another option,with easy access.
I have checked the various options on MSE but cannot find anything at a decent rate.
Any advice greatly received!.
0
Comments
-
Current accounts don't need the monthly deposit to be in one lump, and it's not necessary to leave the deposited amount in the account. So a £500 monthly requirement could be met by circulating £100 though the account 5 times during the month.Eco Miser
Saving money for well over half a century0 -
Thanks Eco Miser,so she could put through a standing order from her Halifax account and remove it again.0
-
Yes, that should work. Always read the T&Cs for each particular account to be sure, taking note of what they don't say as well as what they do.Eco Miser
Saving money for well over half a century0 -
Thanks for that Eco Miser,I'll check it out for her.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards