Regular saving account 3k+

lanc_red

Hi.

My first post so please dont flame me!!

I have been having a browse around the web for a regular savings account that allows you to invest around 3k a month, but cant seem to locate anything.

Am I doing the right thing by investing this into a regular savings account or is there a different product?

Basically I dont need immediate access to these savings. I am not saving for anything in particular but would like a good return on interest etc.

Any help/advice is appriciated.

grumbler

Welcome to MSE!

You can invest £3000 p.m. in any easy-access saving account. In fact banks don't encourage regular saving and don't give sencible incenitives for this. Quite opposite they use regular saving accounts to grab attention by high interest rate while imposing very low limits on maximum monthly amount. £3000 amount is more typical for a year, not for a month. The maximum monthly amount I know is £1000 at Derbyshire BS with only 5.4%.
Either use other type of saving account, or use many regular saving accounts, although I am not sure that you will be able to find enough of them to make up £3000 p.m. 'portfolio'. Don't forget about your partner and relatives (if you can trust them) and about £3000 cash ISA allowance.

See also Regular Saver link in the blew box above and N&P 8% Regular Saver thread ...