In need of help!

Rob1985

Hopefully, I'm just about to come across some money, now this is where I need your help. I already have a bank account with Natwest, a student one which I'm happy with; however, I want to set up a separate account to keep this money away from the other. The amount is £1000 and the bank account I'm hoping to set up, wont be my primary one and I don't think I'll be putting much money into, therefore I just need an account with a high street bank, good interest, free-bies etc.
OR
If anyone can suggest a good investment for this money, I don't plan on spending it so a medium term investment would be ideal. If anyone has any good information on shares etc I would be interested. In a Martin Lewis stylee I want this money to work for me and make more money!
Thank you
Any ideas would be gratefully received.
Rob

cadboll

If by medium-term you mean a year, then a cash ISA is probably your best option. That way you can get a reasonable amount of interest on your money without being taxed!! (Letting your money work for you!).

As you probably know the limit for cash ISA is £3,000 so if you did come into any more money you could always add more.

From memory, the Yorkshire Building Society offer a rate of 5.20 Gross/AER on their Cash ISA.

The other option is to put your money into an online saver account - such as Nationwide (5.00% Aer/Gross) or Cahoot. The disadvantage is that you get taxed on the interest!

There are a number of different articles on this site which give more detailed information so its probably worth checking them out.

Hope this helps.