£10000 to invest

modelreject

Hi,

I have an ISA with £15000 in it and the interest in it is terrible. I would like to invest £10000 if it somewhere low risk but with good interest, if there is such a thing.

Need some good solid advice. Please help!

Thanks
MR

CLAPTON

modelreject wrote: »

Hi,

I have an ISA with £15000 in it and the interest in it is terrible. I would like to invest £10000 if it somewhere low risk but with good interest, if there is such a thing.

Need some good solid advice. Please help!

Thanks
MR

do you mean 'invest' (as in stocks and shares etc) or do you mean 'save'
why do you keep 15,000 in a poorly paying ISA?
is the 15k the total of your savings?

Katiehound

At the moment folks in the know are splitting their savings/ rainy day money/ call it what you will ! between current a/cs which pay a good rate and also regular savings a/cs linked to ceratin current a/cs.
This way it's possible to earn 3-6% subject to all the different t&cs with different banks.

modelreject

15k is the total of my savings. Pretty much, all ISAs have poor interest rates and from what I have read people are recommending just saving in normal current accounts. I don;t mean stocks and shares, just good accounts with good interest rates.

Thanks

Dan83

Nationwide upto £2500 5%
TSB upto £2000 5%
Lloyd upto £5000 4%

They all have min pay in's and Lloyd needs direct debits

modelreject

@Dan83 That's the direction I am looking. Thanks Dan!

YorkshireBoy

Do you have plans for £5K of your cash? Otherwise why only move £10K of it?

modelreject

Well, I will probably be doing up parts of the house in the coming months...hopefully!

YorkshireBoy

modelreject wrote: »

Well, I will probably be doing up parts of the house in the coming months...hopefully!

...and you don't fancy getting 2 times, 3 times, or more times the interest in the meantime?

Katiehound

HSBC Advance, M&S (& probably First Direct!) have monthly saver a/cs linked to their current a/cs with £250 pm max pay-in paying 6%

Club Lloyds has a linked monthly saver- max £400 pm paying 4%

TSB Classic Plus also has a saver- sorry don't know rate

Feel fairly sure the Nationwide is for the first year

Plus there is Halifax Reward paying £5 if you meet the criteria plus their Clarity CC pays £5 if you spend £300 in the accounting month

You could put some in Tesco current a/c paying 3% and then drip feed the others

Why leave anything at all in an ISA when it's paying absolute peanuts?
This way you have to be organised but the money is easily accessible (except the monthly saver because if you close early you generally lose the high interest, however you can drop to the minimum payments.)

Dan83

There is also a few 3% deals out there, I use tesco, you can have 2 tesco accounts saving £3000 in each at 3%.

I don't have any monthly saving account, if you are going down that route, put your money in an interest paying account and drip feed from there, T&Cs permitting of course.

Why not pay for home improvements on a 0% credit card and keep your savings?