We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
LISA and High interest savings
Options
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?
0
Comments
-
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
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards