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alunp
Stranger
Joined: 10 Jun 2006
Posts: 3
Cash Points ££ 65.30
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 Posted: Sat Jun 10, 2006 8:03 pm Post subject: Savings that give me a monthly income |
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Hi
I will have 25 to 30k to save soon. I want to save it in such a way that I get paid each month from the interest. Can anyone advise how this is possible?
Ta
Al |
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alunp
Stranger
Joined: 10 Jun 2006
Posts: 3
Cash Points ££ 65.30
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| Posted: Sat Jun 10, 2006 8:04 pm Post subject: |
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btw i'm not a taxpayer in case that affects answers
ta
al |
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Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
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| Posted: Sun Jun 11, 2006 2:58 pm Post subject: |
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Hi
So your looking for a high interest savings account that pays monthly interest.
Bradford and Bingley pay 4.85% with instant access, though you may get a higher rate on an annual interest account.
Also complete form R85 on account opening to get your interest paid gross |
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alunp
Stranger
Joined: 10 Jun 2006
Posts: 3
Cash Points ££ 65.30
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| Posted: Sun Jun 11, 2006 6:13 pm Post subject: |
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| Thanks Sarah much appreciated! |
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sillymoney
Newbie
Joined: 13 Feb 2005
Posts: 17
Cash Points ££ 78.48
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| Posted: Fri Jun 16, 2006 6:17 am Post subject: |
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| You should also look at the monthly savers which pay upto 10% interest i.e. halifax is 7%, HSBC is 8%. |
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Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
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| Posted: Sat Jun 17, 2006 4:28 pm Post subject: |
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| Whats good about the halifax regular saver is that its an annual account that continues after maturity i.e. starts again. |
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