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I'm looking to save between £600-£800 a month. Not a clue where to start with best returns. never really saved before.

I'm looking to save between £600-£800 a month. Not a clue where to start with best returns. never really saved before.

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This is the best option. You get 5% on up to £2,500 and then you can open a regular saver which lets you save up to £500 a month at 5% for a year (interest paid at the end of the year). So I would keep saving into your main Nationwide account, transfer £500 a month into your regular saver, and once you have more than £2,500 in the main account you can start putting the excess into another account (I think Tesco still has 3% accounts) or you can invest it etc.

£500 saved monthly into nationwide returns about £190 a year (plus 1.5% from the drawing account if its with santander)

£500 saved monthly into nationwide returns about £190 a year (plus 1.5% from the drawing account if its with santander)

Anything is better than the .48p I got this year. Thanks for the advice!

you don't get interest on Premium Bonds do you?

oooh, I am going to get myself some Premium Bonds :D

£500 saved monthly into nationwide returns about £190 a year (plus 1.5% from the drawing account if its with santander)

30,000/12 is 2500 so as long as you have £2500 saved you should be winning at least 1 £25 prize a year so 1% interest.

Additionally you have other prizes which would make it far surpass the 1%. Given how poor most savings accounts are it's a decent interest rate as a base and the chance of winning up £1million each month.

30,000/12 is 2500 so as long as you have £2500 saved you should be winning at least 1 £25 prize a year so 1% interest.

Additionally you have other prizes which would make it far surpass the 1%. Given how poor most savings accounts are it's a decent interest rate as a base and the chance of winning up £1million each month.

30,000/12 is 2500 so as long as you have £2500 saved you should be winning at least 1 £25 prize a year so 1% interest.

Additionally you have other prizes which would make it far surpass the 1%. Given how poor most savings accounts are it's a decent interest rate as a base and the chance of winning up £1million each month.

The Nationwide one is limited to £2500 and a 1 year term, it's also taxable and you have to deposit £1000 every month into the account.

To get the 4.89% you need to deposit £1000 every month but also keep it at the £2500 mark as anything over £2500 gets 0% interest.

That means after you have £2500 in there you have to add then remove £1000 every month as the £1000 doesn't get any interest.

Lots of messing around and £1000 floating around not getting interest which drops the rate down to about 3.5% on £3500 max

Sure it's still better on the base ~1%, but a lot of people like the idea they could get one of the larger prizes and once they are in there you just let them ride with no messing about.

The Nationwide one is limited to £2500 and a 1 year term, it's also taxable and you have to deposit £1000 every month into the account.

To get the 4.89% you need to deposit £1000 every month but also keep it at the £2500 mark as anything over £2500 gets 0% interest.

That means after you have £2500 in there you have to add then remove £1000 every month as the £1000 doesn't get any interest.

Lots of messing around and £1000 floating around not getting interest which drops the rate down to about 3.5% on £3500 max

Sure it's still better on the base ~1%, but a lot of people like the idea they could get one of the larger prizes and once they are in there you just let them ride with no messing about.

The Nationwide one is limited to £2500 and a 1 year term, it's also taxable and you have to deposit £1000 every month into the account.

To get the 4.89% you need to deposit £1000 every month but also keep it at the £2500 mark as anything over £2500 gets 0% interest.

That means after you have £2500 in there you have to add then remove £1000 every month as the £1000 doesn't get any interest.

Lots of messing around and £1000 floating around not getting interest which drops the rate down to about 3.5% on £3500 max

Sure it's still better on the base ~1%, but a lot of people like the idea they could get one of the larger prizes and once they are in there you just let them ride with no messing about.

http://www.telegraph.co.uk/investing/bonds/martin-lewis-this-is-why-you-should-dump-premium-bonds/

http://www.nationwide.co.uk/products/savings/flexclusive-regular-saver/features-and-benefits

Maximum pay in £500 a month for 12 months,5%

http://www1.firstdirect.com/1/2/savings-and-investments/savings

And 5% up to £300 a month for 12 months here

Edited By: tomdavidrichards on Jan 09, 2017 11:58: EditHe should have said 'may' win money, there are no guarantees that you get anything...

Maximum pay in £500 a month for 12 months,5%

The balance on 12 monthly deposits of £500 paid on the first day of each calendar month with an interest rate of 5.00% gross p.a./AER (variable) would be £6,162.50.

The current account has a better rate without your saving £4500 or more.

What is the best way to engage this company? I like the look of a bit of a gamble without huge losses. What package do you invest in?

Maximum pay in £500 a month for 12 months,5%

The balance on 12 monthly deposits of £500 paid on the first day of each calendar month with an interest rate of 5.00% gross p.a./AER (variable) would be £6,162.50.

The current account has a better rate without your saving £4500 or more.