£4000 to save

adeegan

Hello All,

I was hoping some of you on here would be able to give me some advice.

I have £4000 that I want to put into some sort of savings account, however, not being a "saver" typically, I have no clue about the various accounts on offer etc.

So any advice on what kind of account to go for, and where to get it from would be greatly appreciated.

When I say I have no idea, I mean, I have no idea, read the article on mini cash isa's, but from what I read that is limited to £3000.

The money is likely to be untouched for at least a year.

Thanks All.

Robert_Sterling

The first £3000 in a mini cash ISA ( Tax Free )
Interest rate about 5% give of take.

kenshaz

Please read the full section on investment and savings by Martin ,no better advice can be given by posters

$17mma

3k ISA then stick the rest into a Reg saver such as Lloyds or ICICIhttp://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1108401263,93536,http://www.icicibank.co.uk/index.html

dparky

If the money is going to be untouched for a year. Put 3k in a ISA and put the remaining in a fixed savers account.

patwa_2

Hello.

As said before, you could put the first £3,000 into a tax-free ISA, and the remaining £1,000 into something like the West Bromwich Building Society's E-Bond 6. That'd give you an additional £52.70. As the £3,000 is tax-free, I don't know if that 'd be counted towards your tax-free savings limit, and therefore if you'd be taxed.

There may be higher interest paying products, but they usually have a longer term. Also, there re high interest paying Regular Savers, but then you don't get the interest on the full amount from the word go. That having been said, Halifax and HSBC do higher rated regular savers, you could split the £1,000 into 12 payments of £83.33, but you have t have a current or savings account open with them first (actually the Bromwich one may have that requirement also).

Hope this helps.

Cheers and take care.

Hussein.