Want to save £12000 ... which account do I use?

tsjhangra

Hey guys,

I've saved £12000 and would like to invest this into a savings account. I don't intend to touch the money for the next 12 months. I can add an extra £100 into this account if its going to make a difference... if not I won't bother.

What do you guys reckon?

Thanks

slipthru

Have you opend an ISA? If not that would be the first thing to do. Then maybe a fixed rate bond.

tsjhangra

I have already put in the maximum into my ISA this year.

Could you tell me more about the fixed bonds?

j-man_5

Hi tsjhangra, take a look at the link and scroll down to the bit on fixed rate savings for some info- http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

I've just opened one with Kaupthing Edge which is the one Martin reccomends in that link. 7.15% for a 1 year one. You could put say 10k in there and leave the other 2 in the normal Kaupthing Edge savings account which pays 6.5% just incase you do need to get at some money. There are a quite a few people payin 7%+ on a 1 year bond if you dont fancy Kaupthing Edge. Hope this helps!

tsjhangra

I've not heard of Kaupthing EDGE before..?

paul5046

I've just put 10k i dont need into a Halifax websaver paying 6.70% over 9 months. Then you could take out another one straight afterwards.


http://www.halifax.co.uk/savings/fixedwebsaver.asp