£9k to invest - advice needed

adonis10

http://www.barnsley-bs.co.uk/media/1yrbond/?cmpid=122

Decent enough bond for 2-2.5k? Don't need it for a year and it's one of the highest rates.

grumpycrab

adonis10 wrote: »

...but I'm also at the stage in my life where I may need a few grand for a deposit on a property in the next few years.

The fiddly one:-
Stretch it to 10K and open 2 x5K Lloyds Vantage. Then transfer 1K between the 2 (1 -> 2 ->1) every month. 4%.

The easy one:- (you pick the term; I've selected 3 years which gives about 4% to compare with the Llloyds one
http://www.moneysupermarket.com/savings/search-all/?enquiryId=327516

grubby23

grumpycrab wrote: »

The fiddly one:-
Stretch it to 10K and open 2 x5K Lloyds Vantage. Then transfer 1K between the 2 (1 -> 2 ->1) every month. 4%.

You cant be serious that this is really working . I assume you have to have to open them then at least under different names? But still, I guess it is too obvious that you transfer money between those two accounts and they will stop it at some point.

Grolsch30

adonis10 wrote: »

http://www.barnsley-bs.co.uk/media/1yrbond/?cmpid=122

Decent enough bond for 2-2.5k? Don't need it for a year and it's one of the highest rates.

Hi,

Are you able to open the account with say £400 before the offer expires and then top the bond up after?

Feels like a silly question but have no idea how these work!

adonis10

Grolsch30 wrote: »

Hi,

Are you able to open the account with say £400 before the offer expires and then top the bond up after?

Feels like a silly question but have no idea how these work!

It says that you can make an initial deposit and then make further deposits whilst the bond is still being offered for new customers. I put £1,000 in and am now decding what to do with the other 1.5k (£1k here, 2k premium bonds, 2k index linked savings (3 years), 3.5k isa).

Not sure why I spread it around so much, but just wanted a bit of flexibility ie. chance of winnign prizes on premium bonds (willing to sacrifice £60-70 interest for the chance), lock some away for a longer period, make use of ISA etc.

adonis10

So, just £1,400 more to put somewhere. I have plenty of instant access cash and a 1 year bond. Worth going for a 2 year bond to get a better rate? Chances of interest rates rising significantly in the next year or so.

adonis10

*bump* .

adonis10

http://uk.virginmoney.com/virgin/isa/bonds-and-gilts/why.jsp

Thoughts on a bonds and gilts isa?

Not quite ready for a stocks and shares one, but this seems to be a good in between. However, I know little and would appreciate advice from those with more knowledge of such a product. Given that 1 year's net interest on £1,400 will be £33.60, I'm not too fussed about losing that if I have the opportunity to grow my savings at a higher rate. I'm also not stupid enough to think that this is guaranteed!

adonis10

adonis10 wrote: »

http://uk.virginmoney.com/virgin/isa/bonds-and-gilts/why.jsp

Thoughts on a bonds and gilts isa?

Not quite ready for a stocks and shares one, but this seems to be a good in between. However, I know little and would appreciate advice from those with more knowledge of such a product. Given that 1 year's net interest on £1,400 will be £33.60, I'm not too fussed about losing that if I have the opportunity to grow my savings at a higher rate. I'm also not stupid enough to think that this is guaranteed!

Anyone? .