What shall i do/where shall i go.

Smil_2

Hi,

Just wondering if any one can help me. I have a particular amount of money and i want to put in to a savings account/isa. I want it to work for me too, so can anyone suggest any good savings account/isa with good rates so i get a good return. Im clueless and iv searched the net and i feel iv come to a brick wall and it all becomes a blur.

Thank you and i any advice will be appreciated.

bobbyj_2

seems like you're in a sticky situation.

D1zzy

bobbyj wrote: »

seems like you're in a sticky situation.

or even unsticky

Smil_2

Haha, thanks guys, iv now changed the speling mistake!

Lokolo

Have you thought of asking Cotton Eye Joe?

Smil_2

what do u mean?

Ifts

Smil wrote: »

what do u mean?

I think the title of your thread "What shall i do/where shall i go" reminded Lokolo of the COTTON EYE JOE lyrics

If it hadn't been for Cotton-Eye Joe
I'd been married long time ago
Where did you come from, where did you go?
Where did you come from, Cotton-Eye Joe?

As for your question on what savings accounts/Isa's are available for you depends on what amount of money you have to save and for how long.
Take a look at this guide for Starters: http://www.moneysavingexpert.com/banking/

Smil_2

Oh yeah..Thanks for your reply, i have 10 grand to save/invest. Just not sure where to start, however i will look at your link. Thank you.

curlygirl1971

Hi Smil

Look for Kazza242's thread - A very kind fellow who keeps track of all the ISA rates around and updates his very first post regularly. This may help your decision - although this will only help you with the first £3600 as that is your allowance for this tax year (unless you have already put some in an ISA and then your allowance will be less or even used up already)

For the rest of your money how about looking at a comparison website?

Best of luck with it

D1zzy

As a guide -2 x lloyds vantage current accounts - 5k in each will pay you 4% (3.2% afte tax)
IMHO -an Isa is only worth doing if you are a txpayer and can get > 3.2%
You don't say if you can lock away your money for a period (say 2 or 3 years) - if you can you will get better ISA rates and you can get > 4% on savings accounts. Instant access savings accounts will only give you 3%ish
Comparison sites (www.moneyfacts.co.uk or www.moneysupermarket.com ) will give you matching lists if you type in your saving criteria.

cos69

If you don't mind locking your money away for a few years, then Skipton Building soc. have an interesting deal at the moment, paying upto 2.75% above base rate, so currently 3.25%. Thinking of putting some money into this because I think interest rates are going to start rising June/July. Historic UK base rates are in the first link below, so if they reach 5% again you will be paid 7.75% Interest rates are a big unknown, my guess is no better than yours.
http://moneyworld.com/bank-base-rates.htm
http://www.skipton.co.uk/savings_and_investments/savings_accounts/flexiTracker/