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Where to save £10,000 for a year
millerfamily5
Posts: 19 Forumite
Hi
I have £10,000 which I would like to invest for a year but I am not sure if a Cash ISA or a savings account would offer the best interest.
Any advice would be gratefully appreciated.
Regards
Richard
I have £10,000 which I would like to invest for a year but I am not sure if a Cash ISA or a savings account would offer the best interest.
Any advice would be gratefully appreciated.
Regards
Richard
0
Comments
-
Define 'the best'.
With some jumping through hoops you can earn up to 5% on good part of this amount and even 6% on a small part: Best Bank Accounts, Regular Savings
Without jumping - just ~1.5%: Top Savings Accounts
Cash ISAs are pretty much useless nowadays except, possibly, a regular saving one:
(Nott. BS - if you have a branch nearby)Starter Isa Issue 7 pays 2.25% .Variable .
Opening balance can be £2400 and thereafter max monthly payments of £1600. usual restrictions, no withdrawals, no transfers. Matures in 12 months
With this ISA you can make ~£184 interest, i.e. ~1.8%0
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