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    Can someone recommend a bank with high interest for £5,000 for someone aged 17

    Banned
    I have £5,000 thats just sitting in a low interest account doing nothing so I thought I would be good to put the money into a account with a fairly high interest.

    I was going to apply for the account at the post office that pays 2.9% however after reading the t&c's, you need to be over 18.

    Any advice would be helpful. Looking for around 3%, obviously a little lower in most cases.

    14 Comments

    put it in mine, i'll take a lot of interest in it

    Original Poster Banned

    michelleleemoo

    put it in mine, i'll take a lot of interest in it



    Lol, you wish X)

    How long can you lock the money away for?

    speedy1477

    Lol, you wish X)



    is that a no? drat

    Original Poster Banned

    rwm24

    How long can you lock the money away for?



    I'm looking for a easy access account because I've already got 4 other accounts with money tied up.

    Isa would be your best bet. Must be able to find 3% somewhere and it's tax free.

    Original Poster Banned

    gbspurs

    Isa would be your best bet. Must be able to find 3% somewhere and it's … Isa would be your best bet. Must be able to find 3% somewhere and it's tax free.



    Sorry I forogt to include, I already have a ISA.

    In that case wait until April

    speedy1477

    I'm looking for a easy access account because I've already got 4 other … I'm looking for a easy access account because I've already got 4 other accounts with money tied up.



    Have a poke around moneyfacts.co.uk

    Original Poster Banned

    gbspurs

    In that case wait until April



    I'm going to do that then but I would like any extra money that is possible so I thought i could get a little extra by changing accounts in the meantime.

    rwm24

    Have a poke aroundhttp://moneyfacts.co.uk



    Thanks

    Same age as you. Looking to do the same but I was looking to put it in a ISA.

    Original Poster Banned

    mighty mugger

    Same age as you. Looking to do the same but I was looking to put it in a … Same age as you. Looking to do the same but I was looking to put it in a ISA.



    If you look around, there are some good ISA accounts however at the present moment but you cant expect high interests such as a couple of years ago.

    The most annoying thing for me is that can you can put upto £5,100 per tax year into a ISA.

    Edited by: "speedy1477" 9th Feb 2011

    You are better off investing the money IMO.

    In My Opinion

    Investing would be semi easy access. and if you picked the right ones would yield you a higher income than the banks (since you have a loaded ISA already. Higher risk as well, but potentialy higher reward, come check out the sharedealers thread :P
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