where to put £5000

borderline

I have a cash ISA with HSBC that gives me next to nothing interest.
There is only just over £1000, I would like to add £4000 more to the Isa and move it to wherever I get more interest. I would like to save about £100 each month onto this account and I would like easy access just in case.

Where should I put m money?
I get very confused with all the different Isas out there and saving accounts:(

financial_illiterate

Northern Rock E-ISA, accepts transfers in so will take your existing £1,000, and then your £4,000 deposit plus several monthly deposits of £100 up until the end of the financial year in April won't exceed the 2011/12 limit, and afterwards you have a new allowance so can pay in £100 a month every month (or more if you've got it!).

The only thing to bear in mind is that its a variable rate so keep an occasional eye on it and transfer elsewhere if its stops being competitive.

borderline

Is Northern Rock safe?

McKneff

its easy enough to google it and see who pays the best interest for an easy access cash ISA

Make sure that the new ISA accepts transfers in and let the new provider do the transfer for you,
dont do it yourself.

financial_illiterate

As safe as anywhere else, it has FSCS backing for the first £85k of any individual's savings.