Investing £10k

alkip

I have around £10k to invest in the new financial year and I've already arranged to use my tax free allowance for 2006/2007 so what's the best Taxable savings account to put it in?

I might want the money to put towards relocation next year but I could guarantee to invest it for 12 months if it were to get me a better rate of interest. I don't mind an online account so long as it's simple. I'd rather not go for a phone account unless it's a free phone number. I want an account where I can just give them the lot and not have to drip feed from another account and one where I could add to it whenever I liked with however much I liked would be ideal too.

I know I want a lot but I'm confident that there's some out there that'll either come up with the exact solution or something pretty darned close.

Thanks in advance.

mad

I think the best you can do at the moment on savings from most of the comparison tables I have seen is 5.15% with either ICICI or Alliance and Leciester. There may be better? As you say 10% malarchy is all drip feed (HSBC, Barclays etc) and you need accounts with them. You could drip feed from the 5.15 savings account in to one of the ten percenters? I assume if you have already allocated your tax free stuff for next year you will have made sure that you have utilised partners tax allowances ?

I am sure someone else on here must have some other suggestions? The Cheltenham Festival is coming up if you fancy a flutter


Or buy 10k's worth of stamps as in adjacent new thread

dunstonh

alkip, given your requirements, you shouldnt be investing at all. Any investment you make in that timescale would be high risk. If you cannot handle the risk then you should stick to savings accounts.

alkip

mad - partners tax free allowance already utilised thanks and cheers for the Cheltenham info but I don't like to take risks

dunstonh - my mistake I was meaning savings accounts.

rrockettman

I was in a similar situation and put it in ICICI. I put some other "spare cash" into premium bonds, just in case Lady Luck wants to shine on me!

alkip

Cheers Russ, that's prob what I'll do. I've been considering premium bonds for some time so will possible go 50/50.