kevanbarrett

kevanbarrett

MY son's ( 20 in July) bond matures in July.

I need a year's( or close)fixed term investment in his name to pay the best, as I presume he is still not paying tax, with another year to go at Uni.

Thanks in advance for those normal super replies.

Kevan Barrett.

ReportInvestor

Hi Kevan,

You can get 5% on £1 fixed for a year at Birmingham Midshires.

But these top rates change so that it will be better to check again nearer the maturity date.

Careful_ly

I think best option depending on how much we are talking of will be to deposit into an ISA. The interest paid on an account opened in July will be paid in July 2007, and I presume he will be working from September ish so will be a tax payer in the year 07-08.

If there is more than £3000 to be invested you could look at drip feeding into a regular saver account, some of these pay excellent rates (better than ISAs for basic rate tax payers), but depends whats on offer in July.
HTH Careful_ly