Ideas for saving/investing £10K in the short term?
I have already used up my ISA allowance so that’s not an option. I can do without the money for 1 – 2 years max. Any recommendations on high-interest savings accounts or something else?
Thanks in advance.
Well if you’re over 50, you’re entitled to up to £10,200 ISA allowance that can be split between cash and investment isas. If you’re lucky enough to be younger than this, the new allowance will kick-in in 8 weeks (6 April), so you might want to hold on for a bit.
Alternatively, there are some good fixed rate bonds around, and I can’t imagine the base rate will be moving from 0.5% for a while, so might as well get saving. I’ve just had a look and found a site called Which4u offering 4.25% for a 2 year fixed rate bond – http://www.which4u.co.uk/bank-accounts/fixed-rate-bonds so might be worth a look
Hope this has helped
Responsible Allowance DEMONSTRATION (Part 2)