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Best monthy income
freya18th
Posts: 247 Forumite
I have £160.000 to invest for a monthly income. Instant access but not on the net. Which account would be best.
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Comments
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There is no point in insisting in interest being paid monthly. You can just withdraw 1/12 of projected annual interest every month. Instant access is more typical for savings, but not investments. Nationwide e-savings account pays 4.75%. It can be accessed only online. You decide whether it is 'on the net' or not.:think:0
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Play around with the search facility at https://www.moneyfacts.co.uk
Here is a link to the search results based on the requirements you gave...
http://www.moneyfacts.co.uk/savings/search/savingsearch.asp?noFixedTerm=1&monthlyInterest=1&branchAccess=1&investment=160000&instantAccess=1&age=0&accounttype=10 -
£160,000 investing with immediate access and you are looking at unit trusts and oeics (with first £7000 into ISA). Most providers allow fixed monthly withdrawals and there would be no penalty on withdrawals.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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