Real newbie with 4k to put away for 5-6months. What should I do with it?

Franck · 13 April 2005 at 12:09AM

Apology proffered up front if I'm in the wrong place or this questiuon is a common one but I have recently found the site and I'm just really swamped with ALL the info available.
My question is: I have £4k available for 5 -6 months and need suggestions on whats considered best to do with it. All polite and physically possible suggestions would be appreciated.

jimclark1967 · 13 April 2005 at 12:44AM

Assuming you haven't used your 2005/06 ISA allowance yet, put £3000 in a First Direct mini cash e-ISA which pays 6.25% until 6th October 2005.

http://www.firstdirect.com/saveinvest/cash_isa.shtml

The simple option for the remaining £1000 would be to open an e-savings account at the same time with First Direct. This currently pays 5.20% and you'd have all your money in one place.

http://www.firstdirect.com/saveinvest/esavings.shtml

(There are other accounts out there paying slightly more but on £1000 over 5 or 6 months we're talking £5 at most - Up to you if it's worth the effort of 2 ID checks etc... If so go for Alliance & Leicester Online Saver for the £1000)

Or just buy £1000 of premium bonds for a few months - you could get lucky!

:j

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Usual reminder that the above is just for discussion and may be an option for some people in some circumstances and does not constitute financial advice etc... :rolleyes:

Real newbie with 4k to put away for 5-6months. What should I do with it?

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