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    I've been given £10,000 from a relative and have saved a few thousand on my own. My student loan will also be a few thousand when I start in September. Which bank account/s would give me the most interest? They all seem to be unavailable for students or have a limit of £2-3,000 for interest.
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    I have a Halifax help-to-buy ISA which has 4% interest and if you buy a house with it you get an extra 25% from the government. I think it has unlimited withdrawals too.

    The drawback for your situation is that it's designed to encourage saving and you have to feed money in monthly over many years. I think you can put in £1200 when you open it, then £200/month from then on. So it would take a while to put all your money in.

    It may be worth it for some of your money, however.
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    (Original post by electrifeye)
    I have a Halifax help-to-buy ISA which has 4% interest and if you buy a house with it you get an extra 25% from the government. I think it has unlimited withdrawals too.

    The drawback for your situation is that it's designed to encourage saving and you have to feed money in monthly over many years. I think you can put in £1200 when you open it, then £200/month from then on. So it would take a while to put all your money in.

    It may be worth it for some of your money, however.
    My mum is really against help-to-buy ISAs and thinks its a bad idea (she doesn't trust the government with their uni fees stuff). Thank you though for the suggestion!
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    (Original post by pippabethan)
    My mum is really against help-to-buy ISAs and thinks its a bad idea (she doesn't trust the government with their uni fees stuff). Thank you though for the suggestion!
    Uni fees aren't connected to ISAs, they're honestly one of the safest and most effective things you could do with your money. Even if something did happen to the 25% bonus, a 4% interest account with unlimited withdrawals is pretty unheard of elsewhere so it's a sweet deal just with that. If you really don't want a help-to-buy then I guess just shop around a lot, but you may struggle to find a better deal.
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    (Original post by electrifeye)
    Uni fees aren't connected to ISAs, they're honestly one of the safest and most effective things you could do with your money. Even if something did happen to the 25% bonus, a 4% interest account with unlimited withdrawals is pretty unheard of elsewhere so it's a sweet deal just with that. If you really don't want a help-to-buy then I guess just shop around a lot, but you may struggle to find a better deal.
    Can you withdraw at any point? Also how long does the money have to be in there before you can claim the bonus?
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    I think there's a minimum amount to get the bonus, £1600 rings a bell but you'd have to check it. I'm pretty sure you can withdraw at any point but again check it, it could have changed since I got mine
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    (Original post by electrifeye)
    I think there's a minimum amount to get the bonus, £1600 rings a bell but you'd have to check it. I'm pretty sure you can withdraw at any point but again check it, it could have changed since I got mine
    I'll look into it a bit. Thank you
 
 
 
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