ISA advice

rosmic

Hi I have £4,500 to invest in an ISA. Which is the best one to use?

MallyGirl

Not nearly enough info.

Why an ISA?

Cash ISA or S&S ISA?

If S&As you will need to do your own research. If cash then returns are poor - you'd get more cycling the money through a few 5% regular savers with a bit of effort

xylophone

https://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html

But have you ever had a Nationwide Flexdirect current account?

You might open one, and deposit £2500.

You might also open a TSB Classic, deposit £1500 and go paperless.

Set up a same day mid month standing order for £1000 from TSB to NW and from NW to TSB.

Open a Flex monthly saver with NW and move in the remaining £500 (plus the interest arising monthly on the two current accounts) over the next year.

When the 5% deal on the NW current account comes to an end after a year, think again.

Flobberchops

- Are you saving for anything in particular?
- Are you a home owner?
- Are you willing to lock away your money or might you need access to it within a year? 2 years? 5 years?
- Do you intend to regularly add to these savings?
- What is your attitude to risk, i.e. would you trade the certainty of a modest increase over time for the chance of better gains but possibly losing some of your money?