Is this a good idea?

Driving_Soon

Hey

I am a student and have 17k savings, I have over 6k in a Barclays ISA and over 9k in a Barclays Internet Saver.

As a student, the interest I was getting each month was really helping me out! but now .. well we all know what is happening.

Anyway, I am thinking of putting 7k into 9-month fixed rate savings account paying 3%.

Is this a wise thing to do? Are they likely to get worse or better?

Thanks guys

SavingSteve

3% is a bit of a useless rate, you need to read the savings article by Martin, a lot better rates out there.

As to whether to fix or not, that depends if you need access to the cash. If you 100% do not need access then go for it. If you have even a slight incling(sp) that you may need access do not fix the funds!