please help,dont know wat to do!!!!!

biggerry_2

i have a lump sum of £8000,and will be saving £200 per month for the next 3 to 5 years, wat is the best savings account to put this in? with a good guaranteed profit?

Primrose

Well, if you're a taxpayer you should certainly make use of your annual ISA allowance - either £3600 in cash plus £3600 in equities, although if you're nervous about the stock market at the moment, just go for the Cash ISA and check around for a high ingterest savings account. You might consider putting the remainder of your lump sum in a high interesgt One Year Savings Bond offered by some of the banks or building societies, perhaps keeping enough money back in an ordinary savings account so that you can open another £3600 Cash ISA on April 6th next year when the new tax year starts.