Maturity Bond is maturing 1st September - Help

Hayz

Hi all,

Could really do with some helpful advice from all you lovely people.

When my nan died she left some money to me, my brother and my sister. Mum put mine in a maturity bond and has always looked after it. It's with Abbey.

We have had a letter telling us that the bond matures on 1st September 08 and asking us what we would like to do with it.

I have absolutely no idea!

Me and my boyfriend have just started to save towards a deposit for our first place. It will probably take us about a year to get anything worth a deposit. So I know that I need to put the bond away for another year at least.

Any recommendations on where I should put the money for the time being?

Thanks

whu

if you are tax payers you should consider ISA's which are tax free - you can each put in £3600 in a cash ISA in each financial year - depends of course how much money you have

dunstonh

Can you confirm if its an investment bond that is maturing or a fixed term deposit (which are commonly misnamed bonds but have a different maturity process and taxation)?

Hayz

dunstonh wrote: »

Can you confirm if its an investment bond that is maturing or a fixed term deposit (which are commonly misnamed bonds but have a different maturity process and taxation)?

Ummm, doh I'm useless. This is why I'm trying now to grow up a bit and learn what all this means.

I think it's an investment bond?