Saving some money: options

Psypher5

Psypher5

Psypher5

Soldato
Joined
11 Jan 2005
Posts
9,964
Location
Birmingham
So, I'm going to save up for a cheap banger of a car and some hefty insurance, to goto uni with.

Atm, I have ~500 quid, which I want to bank, (so idont spend it on crap) and I was wondering if my current bank account would just do the job, or is there a sort of savings account that will offer higher interest rates and such like?
 
Psypher5 said:
So, I'm going to save up for a cheap banger of a car and some hefty insurance, to goto uni with.

Atm, I have ~500 quid, which I want to bank, (so idont spend it on crap) and I was wondering if my current bank account would just do the job, or is there a sort of savings account that will offer higher interest rates and such like?
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Best off just lumping it in a cash ISA. Your bank can do you one.
 
I thought ias#s involved putting in an amount of money each month (say 100?)

I tried online banking, lost half the info and it wont let me complete it now :P I should just go sit down with my bank shouldn't i?
 
Psypher5 said:
I thought ias#s involved putting in an amount of money each month (say 100?)
Click to expand...
No, you are thinking of share ISAs probably. Mini Cash ISAs do not have any regular deposit requirements.

I should just go sit down with my bank shouldn't i?
Click to expand...
Why? I think you are over-complicating things for no reason. You have a bit of cash and you want to save more. Go and open a savings account, preferably a Mini Cash ISA with the best interest rate you can find and which is convenient for you to use, it's as simple as that.
 
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