Where to reinvest fixed rate saver

lee_tag

Hi,

My fixed rate saver matures in September of this year (2016) to the tune of about 4 grand. I have a current account and a flexi saver account which totals about £1.6k, and so I am not in desperate need to have easy access to the fixed rate saver money. I was wondering if anyone can advise me with where to invest my money once the fixed rate saver matures?

Pincher

Not that I'm recommending them.


https://www.bankofbarodauk.com/exchange-interest-rates/


But I am interested in knowing how people got on with them.

SimonBlake

You mean invest as in invest in shares or funds? Difficult to say where for now, I'd hold off a little until all this EU uncertainty is done and dusted.

lee_tag

Thanks for you answer. Sorry I wasnt very clear, I meant what sort of account to reivest the money in. Do I go for another fixed rate saver for 1-year (I am doing a postgraduate degree for a year next year) or an ISA etc?

SimonBlake

If I was you, I'd go for something higher risk like a stocks and shares ISA as you are at the age where you can take more of a risk. I'd ask myself how useful will 1% interest be to me?

Although if you have immediate plans for the money upon graduating, then stick with it.

xylophone

http://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html

You can search above.

Where do you hold your current account?

polymaff

5% AER instant access TSB Classic Plus?

lee_tag

I did think about a stock and shares ISA but from what I understand if you opt for that option, it's best to leave the money there for 3-5 years to be able to ride out any potential losses due to market fluctuations. I'll do some more research and hopefully figure it out!

lee_tag

All my accounts (current, flexi saver + fixed rate saver) are with HSBC at the moment

Dan83

September is still ages away, things could change by then, so prob best asking the question again closer to the time.

Pincher

Would you believe it.


Radio 4 Money Box did a segment on the upstart Indian banks today 28th May 12:04 noon.