I have £10,000 sitting in my bank, What next?

JOHNNY100_3

I have £10,000 sitting in my bank, What's the best thing to do.
I don't need to touch the money for at least another 2 years.
I don't want to pay £X amount in each month, I just want to put my £10,000 into something and in 2-3 years time get my money back plus whatever I can make on top.:D

Any suggestions?? I'm not very money savvy and need pointing in the right direction so any help would be much appreciated.

Lokolo

Are you a tax payer?

Have you already got an ISA?

JOHNNY100_3

Yes I am a tax payer
No I don't have an ISA

[Deleted User]

If you're okay putting it away for 1 year then at this point doing a quick comparison of new products on the market I'd suggest something like the following:

1. Fill up your ISA allowance of £3600 for the year - Bradford & Bingley 1 Year Fixed Rate 6.25% AER - so no need to worry the rate might drop in a few months time.
http://www.bradford-bingley.co.uk/savings/product/one-year-fixed-rate-eISA-issue4.asp

2. Put the rest, £6400, into IceSave's fixed rate saving account, 1 year team, 7.01% AER
http://www.icesave.co.uk/fixed-rate-savings.html

MonkeySaving?

Put it all on red

Jonbvn

I would suggest an ISA plus index linked saving certs.

Browntrout_2

you could probably have great day out at the Champions League final for that, bring me back a programme!

richev

LOL at brown !!!! superb

come on utd !!!!

deff fill up that isa allowance. it is tax free

johng_uk

If you're okay putting it away for 1 year then at this point doing a quick comparison of new products on the market I'd suggest something like the following:

1. Fill up your ISA allowance of £3600 for the year - Bradford & Bingley 1 Year Fixed Rate 6.25% AER - so no need to worry the rate might drop in a few months time.
http://www.bradford-bingley.co.uk/sa...ISA-issue4.asp

2. Put the rest, £6400, into IceSave's fixed rate saving account, 1 year team, 7.01% AER
http://www.icesave.co.uk/fixed-rate-savings.html

This is good advice. I followed a similar path, but I used Birmingham Midshires 6.81% online bond/saver.

johng_uk

If you're okay putting it away for 1 year then at this point doing a quick comparison of new products on the market I'd suggest something like the following:

1. Fill up your ISA allowance of £3600 for the year - Bradford & Bingley 1 Year Fixed Rate 6.25% AER - so no need to worry the rate might drop in a few months time.
http://www.bradford-bingley.co.uk/sa...ISA-issue4.asp

2. Put the rest, £6400, into IceSave's fixed rate saving account, 1 year team, 7.01% AER
http://www.icesave.co.uk/fixed-rate-savings.html

This is good advice. I followed a similar path, but I used Birmingham Midshires 6.81% online bond/saver. I took a slight hit in interest as the scaremongering on Iceland got to me!!