Help with the ball and chain's savings

HeMan_3

Hi all, my better half has decided to begin saving some money.

She plans to put £500-£700 away every month and is looking to put it away for a max period of 12 months.

Ideal she would like have have instant access to it but would not be taken cash out on a regular basis, may be once or twice max.

She does not have any isa's yet and ideally would like monthly intrest payments.

any advice welcome please.

Ember999

HeMan wrote:

Hi all, my better half has decided to begin saving some money.

She plans to put £500-£700 away every month and is looking to put it away for a max period of 12 months.

Ideal she would like have have instant access to it but would not be taken cash out on a regular basis, may be once or twice max.

She does not have any isa's yet and ideally would like monthly intrest payments.

any advice welcome please.

Does your missus work or not hon? Best savings vehicle would of course be an ISA as she is not currently using this tax efficient method of savings, but also to be taken into a/c is if she is a tax payer or not ie: does she work? or stay-at-home-wife?

HeMan_3

she works and earns about £900 a month, I have advised her to go with IF for an ISA and get a good savings account.

Once again thanks for all your help.

grumbler

HeMan wrote:

...to put £500-£700 away every month and is looking to put it away for a max period of 12 months...

1. £250 p.m. into Halifax Regular Saver 7% (5.4% after 20% tax).
2. All extra money - cash ISA.

When Regular Saver matures in 12 months with £3000 this money goes into cash ISA

Ideal she would like have have instant access to it but would not be taken cash out on a regular basis, may be once or twice max.

Unfortunately, this scheme does not give this flexibility without loss of part of interest or part of ISA yearly allowance.

HeMan_3

Thanks!!!!!