ISA Investment Query

Ham_On_Rye

Hi - my brother has recently come into £4,500.00 and would like to get the most out of it without any risk. I've pushed him down the ISA track for £3k, and from what I've been reading a Halifax Direct seems the best bet at the moment, at least until the rate drops. Two questions:

1. I can't find any mention of an early withdrawal penalty, is there one with this account?

2. Any suggestions on how he can best invest the remaining £1,500.00?


Thanks

ard123en

invest or save ?

Ham_On_Rye

save. I'm thinking he could maybe stick the £1.5k in a high interest savings account until April next year and then top up his ISA, in which case tips on the best savings accounts would be much appreciated. Or are there better options?

cadboll

It partly depends on whether you'll need instant access to the money. If you are looking at keeping it for about a year or so, it might be worth looking at the Halifax - they have a Regular Saver Account - 7% Gross/AER - you could set up a standing order from your current account and put a certain amount in - the maximum you can put in per month is £250.

The other alternative could be to put it into an online saver account - rates are slightly lower, but you can access your money instantly.