is National savings safe to use? just unsure of investing online??

dondon1979

I have £2500 that I want to basically put into a savings account and not be able to touch it for a year. I will need to take it out after a year though.
Would a cash ISA be my best bet? and is it save to do this online with national savings and investments?
Would I get for example 6.25% on the total of 2,500? and as this is calculated in April, but will need to take out of the account in October 2008, will this still be ok?

Aegis

NS&I are about the safest place you can possibly put money. They're backed up by the treasury, which puts them in the unique position of being able to fully guarantee your money. Certainly that's the impression I got from their website, but I'm not sure exactly how that translates into the real world. Presumably this quote is fairly accurate though:

At NS&I we offer a range of savings and investments to suit different people’s needs. Because National Savings and Investments is backed by HM Treasury, you can rest assured that any money you invest with us is 100% secure.

Hope that helps a bit

Aegis

dondon1979 wrote: »

I have £2500 that I want to basically put into a savings account and not be able to touch it for a year. I will need to take it out after a year though.
Would a cash ISA be my best bet? and is it save to do this online with national savings and investments?
Would I get for example 6.25% on the total of 2,500? and as this is calculated in April, but will need to take out of the account in October 2008, will this still be ok?

And yes, their Direct ISA (6.3% instead of 5.35% for the standard cash ISA) is a good savings vehicle. You receive your interest in April for any time you've been invested this year, and I believe you will receive any accrued interest at the time you close the account.