Where to put monthly savings please help!

kitkat33_2

I am completely confused as to where to start with savings accounts.
We currently have £400 and will be saving £400 per month no intention of withdrawing but would like the option.
Thought about an ISA but dont think we can get this as a joint account am i right in thinking this? Its not that important but should we just go for a bank account saving looked into the TSB but it doesnt allow us to deposit more than £250 per month.
Has anyone got any suggestions they would be most appreciated
Thanks alot

wooders

If you want easy access then ISA is for you. If your partner is worried about the joint account thing, you open an isa and stick £200 in and get your other half to do the same. You still get the same % whatever that may be plus you can then save upto £7200 between you.
Easy access - Alliance and Leicester - 6.25%
Not so easy - Barclays - 6.5%

liitleblackcat

It depends if you are paying tax or not. If you are than two Cash ISAs (one each allows you to save up to £7,200 in total) is probably best - check out Martin's Cash ISA page for best buys http://www.moneysavingexpert.com/savings/best-cash-isa
If one of you doesn't pay tax then you can get a better rate at Kaupthing Edge (6.5% currently).

kitkat33_2

Hi there thanks i will check that out. We both pay UK tax

debbie42

kitkat33 wrote: »

We currently have £400 and will be saving £400 per month no intention of withdrawing but would like the option.
Thought about an ISA but dont think we can get this as a joint account am i right in thinking this?

Yes, you are right that you can't open a joint ISA: it would have to be two separate ones, as others have already posted.
If you don't want that then have a look at the regular savers thread for offers on these. Depending on where you are, the West Brom building society have a good regular saver (Magic 8) which allows up to £100 p.m. and currently pays around 7.5% gross.