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£12,000 to save

donmega
donmega Posts: 6 Forumite
in Savings & investments
I have £12,000 currently sitting in a Nationwide Cashbuilder account. These are my only savings, where is the best place i could put it??
thanks

Comments

  • KTF
    KTF Posts: 4,855 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Scroll up to the top of this forum and read the best buy articles.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    What are you plans for the money?

    When do you intend to spend some or all of it?

    Are you planning to add to it?

    Typcially, something like ISA 3,600 (HSBC 6.25% for example) and bang the rest in a 7%+ fixed rate for a year would be a suggestion.
  • donmega
    donmega Posts: 6 Forumite
    thanks for the reply. I dont need to touch the money for atleast 2 years, i dont have any plans on adding to it at the moment. Is the HSBC Isa the best one to go for?? Any advice on which bank i should put the rest in?
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    £3,600 in to 6.25% ISA.

    Rest in the post office for a year at 7.05% and review it in 12 months.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    ^^^ he means HSBC cash e-ISA.

    Also ICICI BANKhave a 7.2% 1 year fixed.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Lokolo wrote: »
    ^^^ he means HSBC cash e-ISA.

    He does!

    <doh>

    Not a fan of the Icelandics/Indians/Nigerians/, but yup, they do have a decent rate.
  • downs523
    downs523 Posts: 866 Forumite
    Part of the Furniture Combo Breaker
    £12000 of premium bonds
  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    downs523 wrote: »
    £12000 of premium bonds
    I hope that was a joke! ;)
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    downs523 wrote: »
    £12000 of premium bonds

    Thats my joke!!!!! :mad:
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