Best Savings Account for convenient transfer of interest

A

Afterflood

Registered User
Messages
74
Hello all,

I have a 30k emergency fund.

What I would like to do it put this into a savings account, forget about it, and have the interest automatically transferred (monthly if possible) to a QUINN direct Freeway fund.

I would ike to have the transfer done automatically with no involvment from me.

Which savings accounts will allow me to do this?

Thank you.
 
If i'm not mistaken you could set up a nationwide UK account (3.55%) and they will transfer your int to any nominated account. I'm not sure if INBS or Halifax offer the same facility to transfer your int but you should check that out as they have a slightly higher rate.)
Then you need to set up a Quinn product that operates on monthly contributions. Only problem is if you set up the DD for a set amount you need to ensure the interest from your Nationwide account is the same as the amount on your DD each month.
 
Some pointers below.

I would suggest that Nationwide UK's offer is more likely to be medium term that INBS.

Get the best return for your money ...

For instant access, check out the best buys here.


With both best buys the interest can be paid into another account ...

[broken link removed]


[broken link removed]

 
Is it worth the bother for such a small amount per month given such low interest rates ???
 

"medium term that INBS."

Hi Fungus,

Could you expand on what you mean by Nationwides rate being Medium term compareed to INBS?
 
Nationwide UK not suitable for monthly withdrawals due to
NB: Interest is reduced if more than 6 withdrawals are made a year
Click to expand...

Also, not sure if either of the accounts mentioned support automatic Direct Debits as requested by OP.
 
The withdrawal limit does not include automatic bank interest withdrawals. You can have 12 free interest withdrawals per year which are automated by Nationwide UK on request.

Also, the OP asked for monthly bank interest DD and this is definitely something that Nationwide UK offer.
 
You must log in or register to reply here.
Menu
Log in
Register