Best way to invest £2,000?

karren

Hi have £2,000 I want to invest any suggestions on the best way to save it but be able to get at if if needed? Thanks

ReportInvestor

5.2% Birmingham Midshires Internet 6 account

Here's a link to BM for you

The 5.2% includes a 12 month 0.65% bonus, so you would need to review your account around that time.

dunstonh

invest or save?

PoorDave

Ease of access implies cash savings only to me, otherwise how can you be sure you can get at the money advantageously? For instance buying shares, but finding on the day you need to sell the price is 10% down on what you paid.

My understanding is you should make sure you're using up your cash ISA allowance of £3k first, as the interest can be around 5%, but is not subject to tax.

The Birmingham Midshires quoted seems not to be an ISA, so the 5.2% would be taxed.

I guess Martin has a best buy ISA table somewhere on here

dunstonh

You can make withdrawals and have the money in your account in a week now with most investments. So ease of access doesnt give enough information one way or the other.

With the request stating both invest and save, I thought it best to clarify before a lot of responses potentially suggesting the wrong thing.

Jake'sGran

karren wrote:

Hi have £2,000 I want to invest any suggestions on the best way to save it but be able to get at if if needed? Thanks

I like bonds but of course you can't get at your money until the fixed time is up. I have just invested in the Birmingham Midshires 1 yr bond paying 5.5% which is a good rate. Perhaps you could do £1000 in that and the balance in something like the Alliance & Leicester A/c with access but paying even more according to an email I have recd - just about to have a look at that.