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    • stuwho
    • By stuwho 11th Jan 18, 5:58 PM
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    stuwho
    Best Savings??
    • #1
    • 11th Jan 18, 5:58 PM
    Best Savings?? 11th Jan 18 at 5:58 PM
    I've got 15,000 in a cash ISA earning next to nothing. Whats the best place to put it. I could tie it in for a year without withdrawal. So whats the best place to put it without any risk to my savings?
    Thanks
    Last edited by stuwho; 11-01-2018 at 6:20 PM.
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    • RG2015
    • By RG2015 11th Jan 18, 6:02 PM
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    • 11th Jan 18, 6:02 PM
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    • 11th Jan 18, 6:02 PM
    https://www.moneysavingexpert.com/banking/
    • nilrem
    • By nilrem 11th Jan 18, 8:54 PM
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    • 11th Jan 18, 8:54 PM
    • #3
    • 11th Jan 18, 8:54 PM
    I've got 15,000 in a cash ISA earning next to nothing. Whats the best place to put it. I could tie it in for a year without withdrawal. So whats the best place to put it without any risk to my savings?
    Thanks
    Originally posted by stuwho
    Depends on your tax situation now and in the future and whether or not you wish to keep the money in an ISA, at the moment rates on ISA's are very poor, one of the best with an established provider is a one year fixed rate @ 1.41% with Virgin money.

    You can do a lot better if you transfer it to a non ISA account but you will lose the tax free status on that money, but given that you can purchase 20.000 in a cash ISA every year you could move it back to ISA if circumstances change.

    I feel it will be many many years before interest rates reach the levels of 10 years ago but if they did and your tax situation changes your ISA money being tax free may be advantageous to you.

    I have just elected to take my maturing fixed rate ISA out of ISA status to put it in NS&I bonds at 2.20% but my tax position my be different to yours.
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