Savings Advice?

beckireadshaw

I will have approx £600 a month to save over the next couple of years and am not sure what would be best to put my money. I was looking at cash ISA's however it looks like you can only put £300 a month in there so not sure whether to put £300 into an ISA and the other £300 somewhere else and if so then where? Or should i just stick the lot in a high interest savings account?

When going for an ISA or Savings account would it be better to go for a National Savings one to protect my money even though the interest rates are lower or are the banks safe enough?

Thanks Rebecca

Lansdowne

You seem to have the right ideas: for example the ISA is in principle assuming you will be liable to tax. And remember the ISA limit is £3600 per tax year, so although you say £300 per month, you could put as much as you can between now and April 5th (the end of this tax year) then from April do as you suggest.

Look at the Regular Savings thread (the first and last pages in particular), I think the Principality BS account still gives a good rate for 1 year.

You will have to judge about safety, I think most people would suggest all the main banks and large BSs are safe given the FSCS guarantee.