Where to reinvest fixed rate saver

Archi_Bald

For £5.6K, your best bet is one or more of the interest paying current accounts, and optionally one or two monthly savers. All pay a lot more interest than a fixed rate savings account.

Archi_Bald

SimonBlake wrote: »

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.

Only go for S&S ISA once you have got a decent size emergency cash float, and if you can put the money away for more than five years.

mathubala

Invest for long term. That will be a good.

xylophone

I am wondering whether you will be accepted for one or more of the high interest current accounts.

You might consider switching your HSBC current account to TSB Plus (there is a regular saver too)- you will need to go paperless and pay in £500 a month - if desperate, withdraw £500 and immediately pay it in again.

Come September, when your bond matures, you might try for a Nationwide Flex direct - this requires £1000 a month pay in - you may well be able to automate with SO from your TSB to NW and SO from NW to TSB for the same day each month.

There is also a flex regular monthly saver.

polymaff

Pincher wrote: »

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

And how refreshing to hear the Bank's representative actually addressing the questions put to him!

Pincher

polymaff wrote: »

And how refreshing to hear the Bank's representative actually addressing the questions put to him!

Refreshing indeed.

10% for a Rupee mortgage! In less than a minute, you get a peek into a whole different financial world. Mark Carney is hankering for a nice bit of inflation, and they have too much of it.