Savings Accounts

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I'm 18 next month.. wanting to put some money aside for a car..i earn £1,200 and was thinking of like £500 deposit a month.. is this possibile? Im only asking cos i dont wanna walk into the bank with no clue..

Best Answer

yes, that is just fine. You can put any amount you want into the account. When you are ready to buy the car, you should be able to withdraw it without penalty. Although, i would read all of the terms of the savings account to be sure they aren't trying to sell you on a "Special Account" that might have a higher interest rate, but has more fees attached to it.

what building society is currently giving the best returns ie highest interest

Best Answer

I'll give you a good link to interest rates for saving's account, CD's, and similar vehicles. You will need to enter your area and then it will list rates from various institutions. www.bankrate.com

I need help figuring this out! I want to start saving some money because my husband and I are wanting to start a family in the next couple of years. I want to open up an account that lets me save money, but since I do not make tons of money I need to be able to get my money if I NEED it! I am not planning on taking money out of the account all of the time......but when I do start my family I want to use the money for all of the baby needs, and so on. So, I need an account where I can save my money, but I also need to have a access to it if I need it!!! I DO NOT want one of those accounts that lets you only take out 1000 per time..for example!

Best Answer

A normal savings account will let you transfer any amount to a checking account at any time, or withdraw any amount of money. Just make sure there isn't a penalty for having a small balance. I'd suggest you look at short-term CD's when you have some money saved, since these pay more interest than regular savings. My bank has one CD that I can cash in without penalty after just 1 week.

Does anyone know of a bank that has interest on each deposit you make into savings? Im trying to find one that if i made a deposit everyday ... each day would gain interest. Im really looking to start saving for our familys future... can anyone help?

Best Answer

Congratulations on this question. Shows you have a good head on your shoulders. In stead of a savings account at a bank, look into money market accounts at Vanguard or at Fidelity. These will pay you 5% plus. Even better, look into opening an account with one of these where you purchase stock mutual funds. Over time these will earn you far more money. Call them and ask about "dollar cost averaging."

to invest £10/000 pounds

Best Answer

in walmart