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    Cash Savings Investing Options - Any Help Appreciated

    Hi guys, got £2500 i want to stick in a cash ISA or high interest savings account to make as much use out of it as possible. Anyone know of any good deals out there at the moment or have recently done the same thing and has advice?
    I have so far found ING Direct do a cash ISA with 3% AER for the first year, so id be interested to hear from anyone who has had experience with them.

    10 Comments

    moneysavingexpert.com/sav…isa

    I think the ING isa doesnt go up after the year, the 3% incororates a 1.47% bonus for opening a new isa account with them thats where the difference is. It wont go up after a year, generally the bonus disapears after the first year is up and you get a lesser rate

    Original Poster

    masterruckus;5454622

    http://www.moneysavingexpert.com/savings/best-cash-isaI think the ING isa … http://www.moneysavingexpert.com/savings/best-cash-isaI think the ING isa doesnt go up after the year, the 3% incororates a 1.47% bonus for opening a new isa account with them thats where the difference is. It wont go up after a year, generally the bonus disapears after the first year is up and you get a lesser rate



    Ah yes i think you are right there, i misread it. Thanks for the heads up, rep added :thumbsup:

    Banned

    Have you considered moving your cash offshore? Banks in the UK are pretty stingy right now - if you opened up an account elsewhere you'd get more pleasure from your pounds!

    Original Poster

    CeefaRocks;5454689

    Have you considered moving your cash offshore? Banks in the UK are … Have you considered moving your cash offshore? Banks in the UK are pretty stingy right now - if you opened up an account elsewhere you'd get more pleasure from your pounds!



    Had a look at those and most of the ones with higher rates require at least a minimum deposit of £5000. Thanks for the advice though, i may see if i can stretch a bit more and get one of these. Rep added :thumbsup:

    ive got 10,000 with the halifax. i got 6% for the 1st year then 5% when i reinvested it, no risk whatsoever. Ist called gauranted reserve. You could try them. The rates are not that good at the mo. You will get more the longer you want to leave it. good luck with youre hunt!

    Banned

    The rates at the banks at the moment is so poor its not going to net you an amazing amout of cash.

    All I would recommend is you look at the remainder of your finances, if you have credit card debt or mortgage debt outstanding it may be more beneficial and net you more cash by paying into either of these options.

    You could always back some short term loans, some great returns to be had there.

    moneysavingexpert.com/sav…ngs

    moneysavingexpert.com/car…bts

    I know you're looking to invest a lump sum, but Barclays are doing a regular monthly saver a/c at the moment (min investment £20 per month) with a 6% interest rate for the year. Withdrawals are allowed, but you'll only get 3% for months where you make a withdrawal.
    It might be worth putting some money in an instant access account (eg Tesco instant access "internet saver" a/c paying 2.25%) and then paying "x" amount to the monthly saver a/c each month.
    You'll have to do the maths to see if that's worthwhile or not (I'm rubbish at maths...).

    Original Poster

    leecroot;5454862

    ive got 10,000 with the halifax. i got 6% for the 1st year then 5% when i … ive got 10,000 with the halifax. i got 6% for the 1st year then 5% when i reinvested it, no risk whatsoever. Ist called gauranted reserve. You could try them. The rates are not that good at the mo. You will get more the longer you want to leave it. good luck with youre hunt!



    sculpturatus;5454986

    The rates at the banks at the moment is so poor its not going to net you … The rates at the banks at the moment is so poor its not going to net you an amazing amout of cash.All I would recommend is you look at the remainder of your finances, if you have credit card debt or mortgage debt outstanding it may be more beneficial and net you more cash by paying into either of these options.You could always back some short term loans, some great returns to be had there.http://www.moneysavingexpert.com/savings/safe-savingshttp://www.moneysavingexpert.com/cards/pay-off-debts



    stgeorge;5455138

    I've got the same amount for my sister & She wants to do the same.I've … I've got the same amount for my sister & She wants to do the same.I've been looking at this: http://www.theaa.com/savings/year_fixed.htmlhttp://www.money.co.uk/savings-accounts.htm



    mime20;5455599

    I know you're looking to invest a lump sum, but Barclays are doing a … I know you're looking to invest a lump sum, but Barclays are doing a regular monthly saver a/c at the moment (min investment £20 per month) with a 6% interest rate for the year. Withdrawals are allowed, but you'll only get 3% for months where you make a withdrawal.It might be worth putting some money in an instant access account (eg Tesco instant access "internet saver" a/c paying 2.25%) and then paying "x" amount to the monthly saver a/c each month.You'll have to do the maths to see if that's worthwhile or not (I'm rubbish at maths...).



    Cheers for all the help guys, ill definately be taking the advice on board, i especially like mim20's idea :thumbsup: Ill leave as much rep as i can!!!

    Kent Reliance Building Society are doing a cash Isafixed rate at 3.2% for 1 year.Transfers into the account can be made.It is a postal account, forms downloaded from the site.

    krbs.co.uk/dir…spx
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