where to save £333 per month for 3 years

iris

I am lending my daughter £12,000 to buy a car and she is repaying me over a 3 year period.

Any ideas where to put the money?

I would like to keep this money separate from my other accounts, but it would be nice if I could get a bit of interest. I have no immediate need for this money.

daveyjp

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Zero_Sum

As its a monthly amount you should be looking at regular savers

xylophone

Have you ever had a Nationwide Flexdirect account?

If not, you might open one and take advantage of both the 5% interest on it (for a year) and also the regular saver which is still available after the introductory rate on the current account ends.

Can you get to a Kent Reliance branch or a Virgin Money store?

Both have regular savers - the Kent Reliance allows up to £500 a month.

iris

xylophone wrote: »

Have you ever had a Nationwide Flexdirect account?

If not, you might open one and take advantage of both the 5% interest on it (for a year) and also the regular saver which is still available after the introductory rate on the current account ends.

Can you get to a Kent Reliance branch or a Virgin Money store?

Both have regular savers - the Kent Reliance allows up to £500 a month.

Yes, I have already used N/wide regular saver at £500 per month and am now doing the £250 per month saver.

I can't use Kent Reliance or Virgin Money as no branch near me.

Thank you for your suggestions.

iris

Zero_Sum wrote: »

As its a monthly amount you should be looking at regular savers

All the regular savers that are available to me (internet) only allow max £250 and are only for 1 year. I have already used Natiowide RS.

Thank you for your suggestion.

iris

daveyjp wrote: »

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Thank you for the link.

amblonia

You could also consider OakNorth. They have a 90 day notice account giving 1.77% p.a.
Deposit your £333 each month and if as you say you don't really need it yet, you won't be tempted to dip into the funds because of the nuisance of having to give 90 days notice.

iris

amblonia wrote: »

You could also consider OakNorth. They have a 90 day notice account giving 1.77% p.a.
Deposit your £333 each month and if as you say you don't really need it yet, you won't be tempted to dip into the funds because of the nuisance of having to give 90 days notice.

After looking at OakNorth web site, it appears there is a minimum payment of £1000.

Skibunny40

First Direct Regular Saver?

xylophone

First Direct Regular Saver?

The OP would need to open a current account with FD in order to take advantage pf the regular saver.