Is your dream wedding a saving nightmare? - Money - News - Moneyfacts


Is your dream wedding a saving nightmare?

Is your dream wedding a saving nightmare?

Category: Money

Updated: 20/05/2010
First Published: 20/05/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

With the weather improving and days getting ever longer, it is a sure sign that the wedding season is upon us.

Some will be looking ahead to a celebration in 2011, while others might have caught the love bug so badly that they are planning to tie the knot even earlier.

Whatever the timescale in question, walking down the aisle is more often than not a costly affair.

However, with savings rates seemingly in the doldrums, prospective newlyweds might be wondering how best to save up for their big day.

The good news is, all is not lost. Here we reveal three products which could help you towards the wedding day of your dreams:

Saffron Building Society - Online Goal Saver

Upon opening the Online Goal Saver account from Saffron Building Society, savers must choose a 'goal' towards which they are saving. Paying 2.25%, investments into this online operated account can range from between £10 and £2m. Although no notice is required to make a withdrawal, all transactions must be made via a nominated account.

Northern Rock - Fixed Rate Regular Saver

Savers looking to put a regular amount aside each month might like to consider the Fixed Rate Regular Saver from Northern Rock. The account pays a fixed rate of 5%, with savers able to invest up to £250 per month. The account has a fixed term and matures on 1 June 2011. Withdrawals can be made without notice and penalty free.

Sainsbury's Finance - MasterCard for Nectar Holders

New and existing Nectar Card holders who open a Sainsbury's Finance MasterCard credit card are being offered 0% for 12 months on new purchases. Providing borrowers are disciplined, they could pay for wedding expenses on the card and as long as they repay the debt within 12 months, they will have no additional interest to pay.

If the debt isn't repaid within 12 months, interest will be charge at 15.9% APR. The added benefit of paying on a credit card is that expenses of over £100 are protected under the Consumer Credit Act. If there is a problem with the goods purchased, and you can't reclaim from the vendor, the card company should reimburse you.

Find the best savings rates for you - Compare savings accounts

Find the best credit card rates - Compare credit cards

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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