I'm looking for a UK savings account where I can save £1000 per month with good rate of interest. Any ideas?

Question

Basically I want something like Halifax's Regular Saver, but that only allows you to save £500 per month. Has anyone heard of or already use a savings account where a £1000 monthly deposit is allowed?

Answer 1

Live a little - Put £500 in Halifax and invest the other £500 in shares - there are some good funds that can be snapped up cheap now

Answer 2

Open 2x Halifax accounts then :-)

(you might have to put one in the name of your partner / child / pet)

NB. If you are saving long term, you REALLY should consider adding to your Company Pension via AVC's (if they run one) or a SIPP ... failing that at least consider protecting some of your Interest in an ISA..

If you can afford to save £1k a month your are almost certainly being Taxed at 40% .. so the £1000 you are putting into regular savings has been Taxed at 40% before you get it .. you could put the untaxed money into an AVC (or get a 20% Tax rebate in a SIPP, plus claim any higher rate (40% Tax) balance at year end - which could be another 20%) ...

Failing that, the interest on your Halifax savings a/c will be Taxed at 40% = you can put over 7k a year into an ISA and get it back whenever you like (unlike an AVC or SIPP where you have to wait until your Retire) and not pay any Tax on the interest.