Advice on Savings/ISA account or both

HScorpio1985

Hi,

First time poster who is very new to the world of saving so bare with me.

Currently, I have about a 3000 pound lump sum which I want to save. From now on I will be saving around 900 pound a month. However, I don't know what to do with it. Obviously, with an ISA I would only be able to deposit 5760 per year but I will be saving more than that each year. I am only really looking for a decent rate with a hassle free scenario. I won't need access to the money either. I currently have a current account with Barclays.

I am just looking to put away as much money before I leave the country in 2.5 years time. Then when I come back it will be used for a deposit on a house after gaining lots of interest.

My ideal scenario would be to deposit the first three thousand in an account and then each month a standing order would deposit the 900. But I want good tax free interest rates so I know I will need more than one account.

Please help. Any advice however basic is much appreciated.

Cheers

jimjames

The ISA limit is £11520, up to half of which can be in cash.

If you only want cash then cash ISA plus regular savings account are probably best options. There should be some links at the top of the forum for the best rates