Where to put 5k?

helen79

Hiya,

I have 5k which I had in an ISA at Nationwide. I have withdrawn that money today and put it to one side, as I have noticed that Nationwides interest rate is v naff!

Does anyone have any ideas about the best place to put it and what the rates are right now?

Thanks

xx

vaporate

Search the Saving/Banking section at the top first.

Depends on what you are looking for? Fixed bonds, easy access ect.

sulkisu

helen79 wrote: »

Hiya,

I have 5k which I had in an ISA at Nationwide. I have withdrawn that money today and put it to one side, as I have noticed that Nationwides interest rate is v naff!

Does anyone have any ideas about the best place to put it and what the rates are right now?

Thanks

xx

Hi

Do you realise that you shoudn't have withdrawn it if you want it to go
into another ISA? It might have been better to wait until you found a suitable place to put it before you withdrew it. As I understand it, there are usually better ISA rates available as we get closer to the end of the financial year, so you might have found a competitive ISA to transfer to, if you had waited a little longer.

vaporate

Well the Op can still put the lot back in an ISA after a certain date. £5,100. However, of course, your limit will be used up for that tax year.

Should have filled in a transfer form and changed.

There is always bonds/instant access accounts.

ISA's are not all that anyway.

helen79

Thanks for the advice. I would like to put the money away in relatively easy access account. Am thinking about putting £100-£200 a month into the savings account. Can anyone recommend any savings accounts that tey think would be good?

Ta

partlydave

helen79 wrote: »

Thanks for the advice. I would like to put the money away in relatively easy access account. Am thinking about putting £100-£200 a month into the savings account. Can anyone recommend any savings accounts that tey think would be good?

Ta

You could get 4% with Lloyds vantage account for your £5K. I opened a current account with HSBC last year and also opened a regular savings account up to £250 a month and get 8% on that, but only lasts a year and you have to not miss a payment for the year.

amcluesent

>as I have noticed that Nationwides interest rate is v naff!<

Yep, I xferred into the First Direct ISA which is paying 3%ish for 12 months.

Baldur

amcluesent wrote: »

>as I have noticed that Nationwides interest rate is v naff!<

Yep, I xferred into the First Direct ISA which is paying 3%ish for 12 months.

It was when you transferred, it now pays 2.75% AER fixed until August 2011 for new accounts - http://www2.firstdirect.com/1/2/savings/cash-e-isa;jsessionid=00004_Wscq57mHdmbqXYRtpB68n:11qkrclbj?clear=true