Investing £5000

silentscream999

hi,

does anyone know how you can invest 5K so you dont get hit by inflation ?

what is the highest interest paying account at the moment ? any ethical methods to invest ?

thanks

Baldur

Do you mean 'save' or 'invest'?

From "what is the highest interest paying account at the moment ?" you appear to mean savings, rather than investments.

opinions4u

You don't make it clear how long you wish to save/invest for.

Inflation proofing comes from National Savings Index Linked Certificates - but inflation is falling so you may be able to get higher returns elsewhere.

I like the Bank of Scotland IASA Reward at 5.8% fixed for a year - but who knows what rates will be at the end of the year?

You may wish to use your ISA allowance for £3,600 to avoid paying tax.

Ethical time? See a specialist adviser (IFA) or look up Co-op bank. I avoid ethical investments as I consider them too narrow and also unable to check every aspect of the investment for "cleanliness". I'm also a global warming sceptic!

silentscream999

well investing means you can lose the money so no thanks but if anyone has a relatively safe place you can invest then please say.

i prefer to save and i havent got an ISA. how much can i expect back if i put in 3.6K ?

thanks

opinions4u

I'd suggest using a comparison site such as https://www.moneysupermarket.com/savings.

Beware though, variable rates may have 1.5% to fall in the next few days, fixed rates may disappear, so move fast!

Baldur

silentscream999 wrote: »

i prefer to save and i havent got an ISA. how much can i expect back if i put in 3.6K ?

That depends on the interest rate of the Cash ISA that you choose and whether it's a fixed or variable rate product - rates have shot down recently, try a search on the usual comparison sites:
http://www.moneyfacts.co.uk/searches/savings.aspx

http://www.moneysupermarket.com/savings/

http://www.fsa.gov.uk/tables/bespoke/SavingsAccount