Fixed term savings I can add to

jamels2

Hi
I'm looking for a savings account which I can only add to and is fixed for a year or two years. I don't want to access the money until the term ends just add to it.
A lot of the accounts say you must transfer a lump sum within 30 days but I will want to be adding to it for longer.
Is there anything out there, are ISAs capable of this? Any others?
Thanks

MovingForwards

https://www.westbrom.co.uk/savings/regular-savers/adults-fixed-rate-regular-saver-issue-4

Something like this?

Zero_Sum

The nearest you'll get to that are single access accounts where you're only allowed to make 1 withdrawal a year. But i dont tnink the rates are that much & better easy access accounts are available.

MovingForwards

https://uk.virginmoney.com/savings/products/double_take_e_saver_issue_10/

This one you can take money out of, but do it too many times and you lose your 'good' interest rate.

polymaff

jamels2 wrote: »

Hi
I'm looking for a savings account which I can only add to and is fixed for a year or two years. I don't want to access the money until the term ends just add to it.
A lot of the accounts say you must transfer a lump sum within 30 days but I will want to be adding to it for longer.
Is there anything out there, are ISAs capable of this? Any others?
Thanks

Regular Savers if you're considering small, (semi)regular deposits.


Multiple fixed-term accounts if you plan to make irregular deposits of a reasonable amount; i.e. when you want to make a deposit, just open a new fixed term account. Many providers allow multiple accounts.

Shedman

Wouldn't a decent rate notice account be suitable. I see for example Secure Trust are doing a 60 day notice account giving 1.75%, Investec 95 day at 1.8% or Paragon 120 day notice at 1.8%, all of which I believe allow you to make further additions. Appreciate it's not as high a rate as you might get on a 1 or 2 year fixed (although other than Sharia there don't seem to be many decent ones of those around compared to this time last year).

jamels2

Notice accounts look good, so you just deposit your lump sum then how do you give them notice? I would want the money for January 2020 so for 60 days I'd have to give them notice on 1.11.19?

firestone

Not sure its what you mean but NS&I 1 and 3 year bonds etc let you add to a bond issue (i.e 3 year growth is issue 59 at the moment) that is already open up to its funding limit but with the new money starting a new term date

badger09

jamels2 wrote: »

Hi
I'm looking for a savings account which I can only add to and is fixed for a year or two years. I don't want to access the money until the term ends just add to it.
A lot of the accounts say you must transfer a lump sum within 30 days but I will want to be adding to it for longer.
Is there anything out there, are ISAs capable of this? Any others?
Thanks

jamels2 wrote: »

Notice accounts look good, so you just deposit your lump sum then how do you give them notice? I would want the money for January 2020 so for 60 days I'd have to give them notice on 1.11.19?

I'm confused.

In the 1st post you say you're looking for an account with a fixed term of one or two years

In the 2nd you say you want access in January 2020, which is only 6 months away

Can you explain exactly what you're looking for, and how much money is involved. Both of those factors will impact on the suitability of accounts suggested

jamels2

It's for overpaying my mortgage 10% each January so next one just under 6 months then 18 months etc

badger09

jamels2 wrote: »

It's for overpaying my mortgage 10% each January so next one just under 6 months then 18 months etc

OK, so a notice account would fit the bill.

Or a series of Regular Savers with the likes of HSBC First Direct & M&S (all of which pay 5% but require a current account) or Virgin which pays 3% but is instant access.

If you haven't already had one, a Nationwide Flexdirect paying 5% up to £2500 for a year would also be a good one to have