Got £3000 to save.......

BBGirl_2

...........for about 9 months, at which point I will withdraw the £3000 for my brothers wedding.

I want to put the money away....but i'm not sure what kind of bank account would be good..........please advise.:o

Bogof_Babe

If you don't already have an ISA, I'd suggest you put the whole £3,000 into one with the best interest rate you can find (plenty of info. and comparison tables available on the internet and of course on here - check out the Savings & Investments board).

(Bear in mind that £3,000 is the maximum you can put into a Cash ISA per financial year, so even if you intend to add to your savings, you won't be able to deposit any extra in the same account.)

The advantage of this is that it is totally tax free. Of course as a student you perhaps don't pay tax anyway, in which case shop around for the best instant access savings account you can find. Don't necessarily go for the first one you are offered, and do consider that internet accounts or postal or telephone accounts tend to pay better than branch operated ones.

I am really curious as to why you are paying £3,000 towards your brother's wedding, but that's none of my business!

BBGirl_2

Thanx BoB,

Will look out for the best ISAs.............as to my brothers wedding....lol......he's getting married abroad so the £3000 is for plane tickets for my kids and myself (£1500!!) and then spending money!:D

someone

in 9 months time its nearly the end of the tax year so an isa is a good idea

BBGirl_2

Thanx guys.....will look into ISAs.