new saver


I am new to saving & totally confused by all the different accounts. I have £4000 to invest & can also save £500 per month for about 12 / 18 months. I'm saving to pay a fixed loan off early. i have no other savings but i do have an ISA account with nothing in it!!

Any recommendations what I should do with my cash to get the best return?? i am clueless:o

Many thanks, Heather.:)
missmental stopping being mental & to be debt free by 53 :j


  • fairtradefairtrade Forumite
    476 Posts
    If you have a lump sum open an ISA in this tax year you can get up to 3% tax free. For your regular savings you could open a regular saver (but have to save a fixed amount each month) or just go for a standard saver interest would be lower but has instant access and you can pay in what and when you want.
    For myself I am an optimist - there does not seem to be much use being anything else.
    Sir Winston Churchill
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