Savings accounts

Kellykitten

I am opening a savings account where interest is calculated daily. After an initial 200 deposit I am planning to add 200 every month (more if I have the spare cash) am I better adding 50 a week or 200 a month with the daily calculation. In my head adding 50 weekly would make more interest, not a lot I know but better in my pocket than there's.

Dazed_and_C0nfused

Adding £200 on, say, the first of each month would generate more interest than adding £50 on the first and then £50 each subsequent week.

Kellykitten

Yeh I'm planning on adding an initial 200 then 50 every week after, thanks

la531983

No point delaying the deposits until you have 200 saved up, may as well get them in there ASAP.

Kellykitten

Also another question, is there such a thing as a cash isa that you can deposit a lump sum then add another lump sum to it at a later date as well. I have an Isa that matures soon and a bond that matures 7 weeks later. I would rather the money all in one Isa than have to open another one

wmb194

Kellykitten said:

Also another question, is there such a thing as a cash isa that you can deposit a lump sum then add another lump sum to it at a later date as well. I have an Isa that matures soon and a bond that matures 7 weeks later. I would rather the money all in one Isa than have to open another one

Yes, the no penalty, instant access ones.

Albermarle

Kellykitten said:

Also another question, is there such a thing as a cash isa that you can deposit a lump sum then add another lump sum to it at a later date as well. I have an Isa that matures soon and a bond that matures 7 weeks later. I would rather the money all in one Isa than have to open another one

Normally with a fixed term/fixed interest rate cash ISA, you can not add any more money after the initial funding window ( usually 14 to 30 days) . However there a handful of providers that do allow you to add more later. 

Kellykitten

Thank you. I'll have a look, I know Nationwide don't do it as I have a regular savings maturing the same day as my isa ( both with Nationwide) and they've said I'll have to open another Isa for it

Albermarle

Kellykitten said:

Thank you. I'll have a look, I know Nationwide don't do it as I have a regular savings maturing the same day as my isa ( both with Nationwide) and they've said I'll have to open another Isa for it

You are right that Nationwide fixed rate accounts do not allow later subscriptions.
One of the banks that do is Shawbrook, but there are a few  others I can not recall.

ToastLady

Am pretty sure Halifax/Bank of Scotland give you 60 days to fund a fixed ISA, but possibly not the best rates at the moment.