£4500 to save

Tw1ster

Hi,

I know very little about savings accounts, ISA's etc.

I've recently come into £4500 which I would like to put away for a few years and gain as much interest as possible. I've been reading up on ISA's but it sounds like I can't put £4500 straight into an ISA?

I've got a cheque for that amount at the moment - don't know what to do with it though!

I have an e-savings account with Natwest - this won't interfere with an ISA would it (I don't think the e-savings account is a mini-isa but I might be wrong).

Hope someone can help me.

Thanks

Stavros_3

Hi,
Every tax year April to April you can put £3,000 in a Mini Cash ISA and
£4,000 in a Stocks & Shares ISA = £7,000

or

£7,000 in a Maxi ISA, of which no more than £3,000 can be in the Cash component.
For more information have a read here
http://forums.moneysavingexpert.com/showthread.html?t=35681

meggles

i have e-savings with natwest. it is a savings account, not an ISA.

if you don't need this money now, i'd deposit the cheque into natwest e-savings. open an ISA. transfer in £3,000. come april 6 2008, transfer in the remaining £1500 + interest.

you could also look at a savings account with a higher rate of interest.

Tw1ster

Thanks - I will probably do that