I`ve got £15k to save/invest.. where, how??

RandyRandy Forumite
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I`ve got £15k to save/invest.. where, how??

I know ISA`s are ok but only allow £5k.

Not had money before so clueless :o
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Replies

  • ViolaLassViolaLass Forumite
    5.8K Posts
    What for and how long for?
  • dunstonhdunstonh Forumite
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    I know ISA`s are ok but only allow £5k.

    Acutally, they are for £10,200 if you include investments.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • RandyRandy Forumite
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    About a year but I may need it at short notice..

    What do you mean dunstonh?
  • edited 30 August 2010 at 2:22PM
    Jock_TightJock_Tight Forumite
    414 Posts
    Mortgage-free Glee!
    edited 30 August 2010 at 2:22PM
    For easy access you could open 3 LLoyds TSB Vantage currents accounts and deposit £5000 into each.

    This account pays 4% APR on balances between £5000 and £7000 as long as the account sees £1000 each month.

    All you have to do is set up a standing order or go online each month and move £1000 from V1-V2-V3 back to V1 (takes a couple of minutes) and you will get 4% on your £15000.

    Yearly ISA allowance is £5100 in cash and £5100 in stocks/shares.
    5/10/12 : Mortgage Free :)
  • i see your Lloyds 4% and raise you a Santander 5%, same principal move £1000 between, easy money.

    If you have a non working partner, its all tax free woo hoo.
    Marry a Foreigner, its so much cheaper!
  • i see your Lloyds 4% and raise you a Santander 5%, same principal move £1000 between, easy money.

    5% on balances up to £2,500, how many accounts can you hold ?
    5/10/12 : Mortgage Free :)
  • dunstonhdunstonh Forumite
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    Randy wrote: »
    About a year but I may need it at short notice..

    What do you mean dunstonh?

    The ISA allowance is £10,200. Of which a maximum of £5100 can be placed in a cash ISA.

    You said in your first post "save/invest". So, the ISA allowance for that criteria is £10,200. However, you have clarified in your second post that its only for a year so investments would not be appropriate. So, only the £5,100 ISA allowance would be appropriate as you shouldnt use investments for that short term period.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • iereboyiereboy Forumite
    415 Posts
    Jock_Tight wrote: »
    5% on balances up to £2,500, how many accounts can you hold ?


    Good point - how many can you hold???
  • RandyRandy Forumite
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    Can I open 3 vantage accounts in 1 name then?
  • Yes as per the t&c's you can have up to 3 Lloyds Vantage Accounts in your name.

    Lots of us on here have 3 ;)
    5/10/12 : Mortgage Free :)
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