BEst way to use 5k

bitemarx

Im gettin a modest bonus of approx £6000.

Although a grand would prob get used up in a holiday, I'm unsure about how best to invest the remaining 5k. I can't lock it into any fixed rate savings instruments for more than 7 months (since I may need access to it sometime mid 2010).

ANy advice would be much appreciated!

Thanks!:beer:

Rob_Marx

bitemarx wrote: »

BEst way to use 5k

partying :j
girls :kisses:
booze :beer:

bitemarx

Rob_Marx wrote: »

partying :j
girls :kisses:
booze :beer:

...something that doesn't immediately spring to mind, I meant. :rotfl:

elektra-2007

Have u used up your isa for this year?
You could put it in premium bonds see if your lucky!!
Or have a look at the highest rate savings account u can find with instant access.

bitemarx

elektra-2007 wrote: »

Have u used up your isa for this year?
You could put it in premium bonds see if your lucky!!
Or have a look at the highest rate savings account u can find with instant access.

Sounds good.. will look into all three options.

:T

D1zzy

LLoyds vantage 4% on balances between 5K and 7K - need to put £1000 through the account each month , but it does not need to stay in there.

maximise

A&L's Premier Direct Account offers 6% on up to £2.5k if you credit £500 per month
Abbey's Current Account offers 6% on up to £2.5k if you credit £1000 per month

£5k

burntcookie

The Lloyds vantage is a good one:

5k - 7k 4%
3k - 5k 3%
1k - 3k 2%
Anything above or below is 0.1%
Even if you drop from the 5k you will still recieve a decent enough amount of interest.

To break it down simply, if you have £5000 in the account, you will earn 4% on 0 -£5000. If you have £8000, you will earn 4% on 0 - £7000 and 0.1% on £1000.

Just a little note: The credit turnover of £1000 needs to be applied in the calander month, if you don't quite hit £1000 then just transfer between another account and back again, still shows as turnover.

27col

Rob_Marx wrote: »

partying :j
girls :kisses:
booze :beer:

Then just waste the rest of it.

McKneff

Rob_Marx wrote: »

partying :j
girls :kisses:
booze :beer:

and squander the rest :rotfl:

trigga

You never get good interest with banks people! u should know that buy now. Or everyone would be rich!. If you want to be a safe investment then yes the bank is your way. But you arent going to make hardly anything from it. High Risk Investments are the ones were u make the most but as they are high risk. Most people dont do it. Premium Bonds are a good idea. You can get them at any time. And they arent high risk. But can still retreive high profits.