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LISA and High interest savings
Scarlett2
Posts: 14 Forumite
I have 45g to invest and want to buy a property in 2/3 years - can anyone please advise me on the best options?
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Comments
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Difficult to answer without knowing your tax situation. If you're a basic rate taxpayer (20%) you can get £1k interest without paying tax on it. £20k at 5% will get you £1k interest tax free. Then you could put £20k into a LISA and a Cash ISA, the interest on that is tax free.
Perhaps a 2 year fixed-rate would be an option. There are many possibilities.
You'd get another £20k ISA allowance in April 2025. More in the LISA I suppose.0
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