Best & fastest Savings account

Mat_Lock

Need help finding a good account where I can save as much as I can as quick as I can and then take it all out later this year.

I am going travelling and need to save about £5000 as quickly as possible.

Any ideas ?

tawse57

Halifax has a 6 month web bond paying 6.4% but your month is tied up for 6 months but the rate is fixed. If you want to put money in regularly take a look at Northern Rocks online accounts.

Mat_Lock

I'm aiming to save £1000 a month. I would need money before 6 months though to pay for stuff.

CLAPTON

look a martins saving section

but if you are saving 1000 per month for only 6 months at say even 5% net that equates to about £70 in interest..less if you are withdrawing it before 6 months

Meltdown_2

Mat_Lock wrote: »

I'm aiming to save £1000 a month. I would need money before 6 months though to pay for stuff.

So in 5 months you will have the £5000 you need.
Bank accounts (of any sort) seem a bit irrelevant here - other than as a safer place to store the money than 'under the mattress'. Any interest earned will be peanuts compared with the capital you are saving. It's rather like a regular-saver type of thing, but generally they won't let you withdraw money before a year is up.

Mat_Lock

I thought as much, ah well. Best left under mattress then