The best way to invest 15k?

la_fleur

Hi, I have 15k to invest and was wondering where was best. I want low risk and instant access so have looked at cash isa, using both mine and my partners allowance, but not sure which is the best. I believe that we can put 10k in this yr, then another 5K in April. I have another 5k that I would want to keep in an instant access saving account so I can tranfer money out monthly. Best case would be all accounts at the same bank.

Any idea which bank offers the best deals?

atush

watty100 wrote: »

I was informed recently that gold and silver is likely to be a safer bet than financial institutions. Keep it at home in the safe, then no amount of financial meltdown can take it away from you.

Gold and silver are illiquid and subject to the ups and downs of any investment.

Keep your ramping to other sites thanks.

And given I own both gold and silver, you still disgust me as it isn't suitable for novice investors. Shame on you.

Electr0n

atush wrote: »

Gold and silver are illiquid and subject to the ups and downs of any investment.

Keep your ramping to other sites thanks.

And given I own both gold and silver, you still disgust me as it isn't suitable for novice investors. Shame on you.

A great reply to someones first post ... I think not .

*shame* on YOU

lvader

First post my @&$£, just another previously banned spammer trying it on again.

atush

A great reply to the ramping of silver which is not allowed on this forum.

By a new or old poster. Or old posters pretending to be new posters. If the shoe fits, wear it. If it doesn't don't ramp anyway.

calypso_rhapsody

To return to the OP's question:

Have you considered whether you can tie up some of the £15k for longer - do you really need it all to be instant access? Will get better rates even if you can only tie it up for a year.

Assuming you are both taxpayers (or expect to be) then yes i think cash ISAs will be the best answer. If you are not taxpayers then you may find better rates elsewhere (eg the top instant access ISA at present is 3.05% but the best instant access is 3.2% and you can get 3.6% fixed for a year outside an ISA).

For info on the top ISAs look at http://www.moneysavingexpert.com/savings/best-cash-isa?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar

I wouldn't personally get too worried about using two institutions for these savings - the chances of the best ISA provider now being the best in April are probably remote. In any case you will almost certainly want to move the money elsewhere in 12 months if you are a true MSE!

calypso_rhapsody

Just remembered this product that you might also look at. Monmouthshire BS have an account paying 4% (taxable) on balances up to £12k - you can have one each. It's an instant access account. That's equivalent to 3.2% if you are basic rate tax payers .....

psychic_teabag

fixed-term cash ISAs seem to offer early access to the money, albeit with a penalty, whereas non-ISA fixed-term accounts often forbid it entirely. I don't know if there's anything in the ISA rules that require this, but just something I've noticed.

So if you need instant-access in case of emergencies, this might be something to consider.

la_fleur

Thank you all for your responces, some good info. After looking at it again we may use half to pay down the mortgage as with interest rates/ inflation and the fact that we are only one year into our house purchase, we figure we would save more in the longterm than make in interest.

The rest, looks like an isa is best option.

Thanks again, will keep away from gold/ silver

The-Joker

la_fleur wrote: »

Thanks again, will keep away from gold/ silver

Why would you keep away from gold/silver bullion?

Gold is getting a pretty decent 10%+ return over the last 11 years and looks to continue silver more than that.

Derivative

The-Joker wrote: »

Why would you keep away from gold/silver bullion?

Gold is getting a pretty decent 10%+ return over the last 11 years and looks to continue silver more than that.

I want low risk and instant access

Can you read?
Gold and silver are neither.

I've made a few hundred from gold in the last few years, but it's more like betting on the horses than any type of solid investment.