£3000.. need advice where to put it

the_devil_made_me_do_it

My partner has £3000 which he wants to save until next year when he intends using it to pay for a masters degree.

Where should he put it in the meantime? He dosen't intend touching it until the time comes when he will pay for the masters degree.

Any advice would be appreciated

StevieJ

The NS&I Direct ISA is good option, needs to be applied for online.

http://www.nsandi.com/products/disa/index.jsp

the_devil_made_me_do_it

I've checked that out. Do I have to keep adding money to it, or is the £3000 a one off deposit?

As I've said, I only want to leave it in for a year until I can organize a masters degree. So I would be looking to apply this time next yr, with a view to starting Sept 2008. So, would I be able to withdraw the cash + interest after the yr is up??

StevieJ

This is a tax free ISA account and the maximum you can contribute within each tax year is £3000, you can pay in one lump sum or pay it in dribs and drabs.

The balance and interest can be withdrawn at any time, if you open this account now before April 6th ( end of tax year ) and you wish to save some more then you can open a new ISA for the next tax year after April 6th again this would be for £3000.

This account is the best on the market and is guaranteed to be .55% above base rate until 5th April 2008.