Best saving account.

hateshousework

I borrowed £10.338 from a friend, I was planning on transferring her £1000 pm but she wants it all in a lump sum.
My income fluctuates so I need a high interest account that I can open with £1000 and deposit between £700 and £1000 pm until I have enough saved.

Many of the accounts I have found either don't let me deposit that much monthly or only let me deposit one lump some for the fixed term. 

I am not a money person so would love some advice please ♥️

ForumUser7

hateshousework said:

I borrowed £10.338 from a friend, I was planning on transferring her £1000 pm but she wants it all in a lump sum.
My income fluctuates so I need a high interest account that I can open with £1000 and deposit between £700 and £1000 pm until I have enough saved.

Many of the accounts I have found either don't let me deposit that much monthly or only let me deposit one lump some for the fixed term. 

I am not a money person so would love some advice please ♥️

OP, this list fulfils the requirement in bold https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&id=null&business-type=16&activity-type=null&investment-amount=1000&investment-type=2&account-types=16&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&is-shariaa=2&joint-account-only=2

You’ll need to read summary boxes and terms to ensure you’re happy with all the account conditions around withdrawals, closure, penalties, notice, deposits etc.

If you’re happy to open more than one account, you can get up to 7.50% on regular savers but you will need to lower the investment amount in the top box to £100, check the list. Then £50, check the list. Then go to full search and select existing customer accounts (if you’re an existing customer of anywhere), and then check the £50 and £100 investment amounts in there to find something that takes your fancy.

Alternatively, almost all easy access accounts allow ongoing deposits - https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false&id=null&business-type=16&activity-type=null&investment-amount=1000&investment-type=1&account-types=2048&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&is-shariaa=2&joint-account-only=2 but usually pay a lower rate.

BOE Base Rate decision is tomorrow, it may be worth waiting a few days to see any movement from this in the tables, then make a decision.

Bigwheels1111

I don’t think there’s a fixed that lets you add more money after the first 14 - 30 days.
So Easy access looks like your best route.
Shawbrook offer 4.63% and are top of the table today but that will change in the next week.
For speed of access Chip is the best, open banking means instant deposits and withdrawals.
Their rate is not the best today but is normally at or near the top give it a few days.