The best place to invest £4000?

UNISTUDENT

Hello,


Basically I have £4000 sitting in a current account and would like some advice on the best option on where to invest it. Not looking to touch any of it in the next 6 months, maybe longer. So I did not think having it in a current account was the best option.

Any suggestions on recommended savings accounts or other options would be great!

Thanks and happy Christmas

jem16

6 months is too short to invest. Stick to savings accounts.

Tesco Internet Saver at 6% going down to 5.1% in January is still the best paying. An ISA is also a good idea although rates are pretty poor at the moment but good for long term tax planning.

UNISTUDENT

Thanks for fast reply. Just checked out Tesco, looks pretty good - cheers

jem16

There have been a few reports of this account being slow to get up and running though. Personally I had no problem when I opened it back in June.

sheslookinhot

just opened a saver account with tesco-15 days from first applying to account being opened.

MimiJane

5 weeks for me to get the Tesco Internet account up and running and a bit of a nightmare along the way :eek: (There's a thread of horror stories).

Having said that though, I'm glad I persevered as it's a good rate, a very flexible account and easy to operate when you eventually get there ...