Savings

afc_dan

Hi,

I have savings of over £100,000 and I know I am losing money with this just sitting in my bank.
What is the best way forward to stop this? Maybe a isa?

This is going to be used as a deposit for a flat or house, so I will probably use it between January and July next year.

Thanks

masonic

You can't put more than £20k into an ISA during this tax year, so most of it will need to remain outside one. You could do a lot worse than browse the following comparison site for options: https://moneyfactscompare.co.uk/savings-accounts/

With your need for the money in a short time, easy access and notice accounts are likely the best options.

Ayr_Rage

You can get 5.15% with Trading 212 in both a cash ISA and on cash in their INVEST product.

You accept a small risk with INVEST as some cash may be held in QMMFs.

The ISA is "flexible" so you can move money out and back in.

Interest is paid daily and you have instant access to your funds.

justwhat

50k in premium bonds, 20k to an isa. 30k into high interest account. then move it to an isa at later date.(if not needed)

jimjames

justwhat said:

50k in premium bonds, 20k to an isa. 30k into high interest account. then move it to an isa at later date.(if not needed)

Not really going to be possible to put more than £20k into an ISA if they are spending in Jan/Feb. I would have thought best paying savings account would give best return over the next few months.