Bank accounts

[NXDisco]

Dear friends.. Not disco related but abit of advice needed!

Is there a bank account out there, or some sort of savings accounts, where I can debit money into the account once a month, but I am not able to retrieve the savings until a fixed date? (I.E. 2 years later?).

Thanks in advance.

[wensleydale]

Yes- regular savers.
Loads of them about- First Direct is best I think at 8% but you need another FD product.
After that Cheshire BS at 5% but you need to ring up or apply in branch.
They are generally 1 yr rather than 2.

[discomobiledj]

Yes- regular savers.
Loads of them about- First Direct is best I think at 8% but you need another FD product.
After that Cheshire BS at 5% but you need to ring up or apply in branch.
They are generally 1 yr rather than 2.

The way the FD account works is that you can pay in a maximum of £300 per month. If you pay in less then that "extra" is rolled over to the next month and so on so that you you pay in a total of £3600 over the year.

The 8% is before tax so reduces to about 6% ish after. If you've only got upto £300 then this is ideal.

You can always open a savings account with a £1 deposit to get access to the regular saver.

[NXDisco]

Its all sorted now guys. Thanks for the input. Went with a Northern Rock account through Virgin Money. 3% Interest, and complete lockout (which I wanted) until the Anniversary Date.