Best place for savings?
#1
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Need to put £5 - £10k into savings. Where's best? What interest rates should I be looking for etc.?
I'm guessing I should put the max (£3,000) into an ISA but what about the rest?
Don't need instant access, happy to have 3 months notice etc.
I'm guessing I should put the max (£3,000) into an ISA but what about the rest?
Don't need instant access, happy to have 3 months notice etc.
#3
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It depneds if you want to spend the interest and make a profit, or just use money effectively. If you have a mortgage then one of the offest accounts is worthwhile, as you don't pay interest on a chunk of mortgage. Typically mortgage interest rates 5 % ish now. If you get interest on the capital, and are a tax payer, then to match this you would have to get 6.7% gross interest, which not many places will be paying on this amount of cash
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