£15000 to save, but confused with so many choices

info_maniac

I need the ability to have instant access to my money, so I will not bother about the fixed rate term deposits for the complete amount. Although I can go for a term deposit or a regular saver for half the amount.

If I look at a one year period, what are the best options for me??

I thought of going for a top paying Instant access account and then drip-feeding the RS from it. Also, I missed the bus for the Halifax 10% RS, so the next best rate I can get for a RS is with Barclays at the moment - 7.75%.

I did my calculations and noticed that instead of drip-feeding the RS from the savings account, if I feed the RS with part of my new money and the rest to the savings account, I will be having the same amount in the end.

Any help would be greatly appreciated. :T

whu

you could have a look at NS&I if you are happy to keep the money in for a year - this pays out tax free-if you want instant access have a look at the best interest rates around on moneysupermarket.com eg Kaupthing Edge which also has a 6 month savings term which may suit you

info_maniac

whu wrote: »

you could have a look at NS&I if you are happy to keep the money in for a year - this pays out tax free

Thanks for your inputs. Which saving product with NS & I? Is this an ISA which pays tax-free interest or some other savings account?