Isa or high interest

jontedkes

I have an endowment maturing on 3rd April which, by the time the money clears into my A/C, I will have missed this years ISA deadline. I took another mortgage last year which I am tied into for another year, so cannot use the endowment to pay off part of the mortgage without penalties. Am I better off putting some of it into 2 ISA's (one in my name one in my husbands) or investing in a high interest account for 12 months? Thank you for any advice

dasherman

Put it in whatever pays the highest interest.

Stubod

I would go for the ISA...these are tax free, and if the reates do go up at some point you can simply move them.....if you do not take and ISA out in any one year you have missed the opprotunity forever.

Stu

kidmugsy

Depending on the cost of an overdraft, you could always bung some money into this year's cash Isas and pay off the overdraft a day or two later.