Santander 123 account - student?

wanderlust23

Hi all

I have quite a bit in savings and would like to open a Santander 123 account to take advantage of the interest rate. Given that I'm currently a student my actual monthly income is quite low. Would this cause my application to be rejected?

xylophone

How old are you?

wanderlust23

I'm 26. Hoping to purchase my first home next year so really regretting leaving my savings sitting in a current account with no interest for so long!

xylophone

https://forums.moneysavingexpert.com/discussion/comment/72455550#Comment_72455550

Do you both intend you try for the Skipton LISA?

Had you considered a sole Flexdirect each and a joint and a Flexclusive saver each?

wanderlust23

xylophone wrote: »

https://forums.moneysavingexpert.com/discussion/comment/72455550#Comment_72455550

Do you both intend you try for the Skipton LISA?

Had you considered a sole Flexdirect each and a joint and a Flexclusive saver each?

Yes, having read a little more into it, the LISA appears to be the way forward. Any left over savings I'm planning to put into an account with a decent interest rate. My only concern with the Flexdirect is the £1000/month min pay in. I can transfer this from my partners account monthly but I'm concerned I wont be accepted in the first place given my student income is around half of that, not to mention my outgoings

xylophone

Perhaps you might start by opening the joint Flexdirect,

Take the situation where a household has only one earner ( a stay at home parent perhaps) - there seems no reason why the couple shouldn't have a joint account.

Shakin_Steve

xylophone wrote: »

Perhaps you might start by opening the joint Flexdirect,

Take the situation where a household has only one earner ( a stay at hone parent perhaps) - there seems no reason why the couple shouldn't have a joint account.

Yes, that works for us.