When Accounts Mature?

eskbanker

Cotta wrote: »

2. I am considering locking it away for one year, this time next year my mortgage is up for renewal and I maybe in a position to pay it off or at least a huge chunk of it.

If your requirement is essentially a home for £6K with a view to using this money in a year's time then the Sharia fixed-term accounts at https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#fixedsavings, such as 2.2% with BLME, are probably the best return.

Cotta wrote: »

Please also note that with the monthly salary coming in this £6k figure is ever rising.

Opening another regular saver would seem the most obvious place for this - if you've exhausted the 5% ones your next best bets at https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/ would seem to be Santander and Virgin at 3%.

Make sure you open your replacement Natiowide regular saver by Friday, when it's withdrawn from sale!

Cotta

eskbanker wrote: »

Make sure you open your replacement Natiowide regular saver by Friday, when it's withdrawn from sale!

My current one does not expire until May 1st, will that exclude me from any renewal?

eskbanker

Cotta wrote: »

My current one does not expire until May 1st, will that exclude me from any renewal?

You'd need to terminate it early, as discussed on the main thread about this at https://forums.moneysavingexpert.com/discussion/5985200/nationwide-to-axe-5-regular-savings-account-on-friday