Best place to Invest a lump sum?

crowma

Looking to invest £15,000

Have taken up all isa options.

Need access within a month.

Off shore accounts?

Suggestions welcome

cheerfulcat

Hi,

One month is too short a timeframe for investment. Put it into a high-interest instant access account.

HTH

Cheerfulcat

Katgoddess

E-Savings accounts will give you instant accesss to your money, at a fairly high rate. Barclays, and NatWest do them. Also Egg, Cahoot, and other online banks do the same. But you pay tax on the interest.

Or you could be brave and invest the money in premium bonds. You will only lose the interest you would have got by putting it in a bank account, and you could win something! You won't be paying any tax.

humbug_4

Katgoddess wrote:

E-Savings accounts will give you instant accesss to your money, at a fairly high rate. Barclays, and NatWest do them. Also Egg, Cahoot, and other online banks do the same. But you pay tax on the interest.

Alliance and Leicester have an E-Savings account at the moment that is paying 5.35% (minimum investment £1, maximum £25000).:cool:

cheerfulcat

Paul_Varjak wrote:

cheerfulcat:

I think crowma wants to invest for longer than a month, but wishes to have an account with no more than one month's notice!

I read it the other way ;-), but still - investment is for five years or longer, and not for money that is likely to be needed at short notice ( you wouldn't want to have to cash in shares or pooled investments at a bad point in the market ).

cheerfulcat

Hi, Paul Varjak,

I know. I'm being an irritating pedant because I want people to understand that there is a big difference between the two :-).