Where to put 2K for 6 months

15lsp

Hi, I need to put £2k in a savings account for 6 months. Any recommendations? At the moment its in my EGG MONEY account which pays 4% interest.

Thanks Laura

tom188

1st Suggestion read the savings articles.
2nd Suggestion ISA if you dont have one.
3rd Suggestion IceSave if you dont.

Primrose

The only problem with IceSave is that they're being innundated with new investors because of the good interest rate and there are long delays in getting an account opened. It will probably take you most of the six months !! I'd opt for a Cash ISA, especially if you're a taxpayer as as least you will then get your interest tax free, not that there will be much of it for such a short period.

15lsp

Ive opened an ice save account it says it will take up to 10 days for the welcome pack to arrive.

I'll look into a cash ISA. Money can be withdrawn after 6 months without losing interest?

mattih5

I opened a ICICI HiSave account and it took about 2 for it to become fully active, although I did open over the Xmas period. I think IceSave and ICICI both have similar rates on interest. Your best bet would be an ISA as you won't be taxed. Be careful when you open an ISA because some may charge you a fee for withdrawing - just read the t&c's.