choices

bobkeats

hi all.
i have to save £50000 in 5 years ( hopeful attempt £10000 a year) even locked in if necessary. Where is the place to put it for best return ? isa ? bank account ?( I'm with the halifax), some kind of policy ?

thanks for any ideas

bob

Pixie5740

It depends on your appetite for risk.

Low risk: Premium Bonds
High risk: Put it on red at Monte Carlo

Foxy-Stoat_3

Set up a standing order and buy £830 Premium Bonds a month.

If you get a big win you won't need a mortgage !

If you get a few small wins, then its more interest than you would earn in an ISA.

enjoyyourshoes

S&S isa = bit of a risk


Bank accounts (Santander £20K=3%: Lloyds £5K=4%: TSB £2K = 5%)
also


regular savers (must have current a/c) HSBC advance £250pm=6%: First direct £300pm = 6%, Lloyds £400pm = 4%)


Do all 3 options based upon what you want to achieve and your appreciation on risk and learn a bit about S&S investing along the way.