Advice please

FunLovinCriminal

Morning all
We borrowed 10k from my parents, with the agreement to pay them back in 5 years.
We have been putting £170 a month away in a BoS 3.75% savings account. The interest is monthly.
We now see they have a 5.5% monthly savings account, we cannot put the £2k we have saved into it, but we can save £25-250 a month into it, with the interest annually though.
Which would get us to our £10k target quicker? We would rather keep everything BoS for personal reasons, we appreciate other banks may pay better interest.

Olinda99

The 5.5% regular saver would give you more interest although be aware at the end of 12 months it will mature into a low paying account which you will have to transfer maybe into your 3.75% account and then start again for another 12 months with a new Regular Saver

penners324

Marcus have an account paying 4.3% on everything and that's not even the best available.

Why limit yourself to 1 bank?

trickydicky14

penners324 said:

Marcus have an account paying 4.3% on everything and that's not even the best available.

Why limit yourself to 1 bank?

As penners324 said, for personal reasons.