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Where to save for a house deposit beyond LISA

My partner and I each have a LISA and we should hit the £4,000 deposits each by October so I am trying to decide where to put the rest of our cash.

Currently looking at NS&I income bonds as I doubt we'll go over the £1,000 tax free interest earnings (that is correct right? We would only be taxed on income earnt from savings interest if it goes over £1,000, therefore we don't need to worry about using our ISA limit unless we thought we'd accrue that much).

A few things to note is that 

a) We need to pull £5,000 out of this account in March to pay a student loan bill
b) I'd like to pull whatever is leftover in the account after that £5k is withdrawn to dump in our LISA's once we get to 21/22 to get the full bonus as quickly as possible. I don't mind leaving a small amount to keep the account open, e.g £500 NS&I states, but wouldn't want it to need over £2k for example.

Any other suggestions?

Comments

  • Albermarle
    Albermarle Posts: 26,039 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    Premium bonds pay on average a similar interest . You might get more or less depending on if you have above or below average luck. 
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