help if poss

the-sko

Ive recently been left ten grand and i want to put in a bank account, but not one where i have to keep paying money into it. all advice gratefully recieved

Jake'sGran

One year bonds are a good idea if you find the best rate. Birmingham Midshires are paying 6.56%. There are a few good instant access accounts around and you can find the best on by reading Martin's list on the pages at the beginning of MSE. I am using Sainsbury's at the moment. They are paying 6.25% and you can have more than one linked account for withdrawals. You probably already know that on line accounts pay the best rates.

Aegis

Cash ISA for £3k now and £3600 in April might be a good idea to start with, as that starts you off with a nice, permanently tax-free savings amount. If you prefer to try the stockmarket, then £3k cash and £4k stocks and shares can be put into separate mini-ISAs to really maximise your tax-free money, but the stocks and part takes quite a bit of research to make it work well and is technically investing rather than the saving you asked for.

If it was me doing this, I'd put £3k into a cash ISA, £3600 into a high interest savings account for deposit into a cash ISA in April, and would look around for the best place to put the remaining £3400, possibly considering savings certificates and 1-year bonds. The nice thing about this approach is that if you don't have an emergency fund already set up for if unexpected costs are incurred, you'll have one now! And a fairly good one because of the tax-free status. Just make sure you look for the best available rates!