Even after a relatively short time period, you can see a decent return on your savings if you made the right choices. Use the Savings Future Value After 2 Years Calculator as a first step, as this will show you how much your savings will be if you invest them at a given interest rate. Then look around for a savings account that provides you with an equivalent interest rate, so that you can meet your saving goals. When you are looking around for a savings account, first decide whether you want to take any risks with your money.
If so, you might wish to consult a financial adviser to get a better idea of what options would be best. You have to take into consideration that unless you have specifically chosen an Individual Savings Account (ISA) or Personal Equity Plan (PEP) you will have to pay tax on the interest you earn on your savings, so that high interest rate you have signed up for may not be quite so competitive when you deduct the tax at the end of the year. Everyone in the UK has a yearly ISA allowance of £10,200, so you can save up to this amount without paying any tax on your interest. The Savings Future Value After 2 Years Calculator is a great starting point for getting you to think about your savings options.