HSBC savings

PaulDesmond

Okay thanks but I have also seen that all these saving people limit to 12 months. Doe this mean that after 12 months you open another savings account and transer all across each year?

Dazed_and_C0nfused

PaulDesmond said:

Okay thanks but I have also seen that all these saving people limit to 12 months. Doe this mean that after 12 months you open another savings account and transer all across each year?

Basically yes.

But some organisations automatically open a new one for you when the existing comes to the end of its term.  And you start all over again, with hopefully the same or better interest rate.

allegro120

PaulDesmond said:

Okay thanks but I have also seen that all these saving people limit to 12 months. Doe this mean that after 12 months you open another savings account and transer all across each year?

Yes. Most Regular Savings accounts last for 12 months.  At the end of 12 months' term you transfer the capital and interest into Easy Access account, open a new Regular Saver and start drip-feeding from Easy Access again.