Whats best for my £1000

mitcho_uk · 12 May 2005 at 1:03PM

Hi, I have £1000 left from my student loan. I would like to save it, what would be the best deal etc.

Many thanks

surfcat · 12 May 2005 at 1:22PM

I would find the best ISA you can find. Although you are a student and thus a non-taxpayer (unless you have part time job earnings in excess of approx 4500 per year), it still makes sense to go for an ISA, as the tax free nature of the interest will be useful once you enter the world of work.

When choosing an ISA, some things to think about:
will you need access to it in the short term?
do you have internet? or would prefer branh based?

beware transfer out fees (eg £35 with alliance and leicester) which may lead you to not change to a different (hihger interst) provider at a later date.

grumbler · 12 May 2005 at 2:01PM

The best deal for easy access (not ISA) savings now is believed to be 5.35% A&L Online Saver. Do not forget to fill-in some form in bank to avoid paying tax on savings different from ISA.