Where to put £1,027?

Suzkin

Hi All,

A bond has just matured (I get £1,027) and they've sent me a cheque. As the interest rates have just gone all belly-up, I was wondering whether anyone might suggest I could best put the money?

I can't do stocks/shares etc. as I don't really have much money to do this. I WAS thinking of using the £1k to go into mini cash ISA in April 2009-10, buy where can I put it now?

Thanks.

McKneff

have you already got a mini cash isa for this year, if not put it in one of those

Suzkin

I have one for this year already

a7man

£1000 is fine to put in a S&S ISA if you dont have one of these. A good time to get into equities if you dont need the money for a few years

McKneff

i think the post office have an account that is tax free that you can have over and above the isa you have for this year. Not a great rate but you get tax free interest to that bangs it up a bit.

Baldur

anniehanlon wrote: »

i think the post office have an account that is tax free that you can have over and above the isa you have for this year. Not a great rate but you get tax free interest to that bangs it up a bit.

The only tax-free products offered by the Post Office are a Cash ISA and a Stocks & Shares ISA.

Perhaps you are thinking of National Savings & Investments, who offer several tax-free options?

See http://www.postoffice.co.uk/portal/po/jump2?catId=19300232&mediaId=52900697

bunny999

try www.moneynet.co.uk to compare interest rates.

mark99

I would not stress about it.

If used up ISA then the difference between 6% and 3% account is less than 10p day.

Mark