savings advice please

debby

I recently inherited some money, and i would like to save about £3k of it. Where is the best place to put it? Savings account? ISA? what? thankyou.
I have no other savings at all this is a start for me!

purch

Find the best Cash ISA and bung it in there.............

whu

I agree with Purch assuming you are a tax payer

Darts

Yes definitely a mini cash ISA. Egg have a good easy to use one with a rate of 6.05%. You can can slightly higher rates but that Egg rate has been steady for some time whilst others have varied.

doire_2

ISA.

Tax free savings

anandp

Cash ISA's are a good safe bet, but really depends on when you're likely to need it next.

If you don't think you'll be touching the £3k for the next 5 years or so, I'd opt for a shares ISA over a cash one. Chances are it'll give you a better return, though of course there is a risk that it could go down too.

I use Fidelity (its worth giving them a call if you're new to all this, they'll talk you through it) for my shares ISA's and their charges are ok too.