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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
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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
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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
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