News1 min ago
What savings account
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I have just been given a gift of �25,000 by a close relative, I would like to put it in a savings account but dont know what type is best, I dont want to put it anywhere that is risky or anywhere I cant get it out quickly. Any advice is greatly appreciated. Thanks.
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Have a look on here:
http://www.moneysavingexpert.com/banking/
How about a 3 pronged approach:
1. Put a fair chunk - maybe �10000 in a fixed-rate fixed term account for two years paying 4.5% pa
2. Use you ISA allowance of �3600 - the interest will be tax free
3. Put the rest in the one of the top Instant Access account paying over 3% pa http://www.moneysavingexpert.com/savings/savin gs-accounts-best-interest#instant
http://www.moneysavingexpert.com/banking/
How about a 3 pronged approach:
1. Put a fair chunk - maybe �10000 in a fixed-rate fixed term account for two years paying 4.5% pa
2. Use you ISA allowance of �3600 - the interest will be tax free
3. Put the rest in the one of the top Instant Access account paying over 3% pa http://www.moneysavingexpert.com/savings/savin gs-accounts-best-interest#instant
-- answer removed --
You don't say how old you are but are you subscribing to a pension and are you a taxpayer?
If you don't have a pension, a lump sum of part of your gift put into a Stakeholder pension might be worth considering as you will get tax relief on your contribution and payments into it now will increase in value when the stockmarket starts to rise again.
If you don't have a pension, a lump sum of part of your gift put into a Stakeholder pension might be worth considering as you will get tax relief on your contribution and payments into it now will increase in value when the stockmarket starts to rise again.
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