I have 7800 to invest, what is the most productive way?
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This is for a deposit so don't want it locked away for a while. I'm a basic rate tax payer (IE under ?42,800ish).
Answers (1)
Hi fergiehome11, and welcome to the forum.
If you don't want to lock your money away, and you haven't used your cash ISA allowance for this year, then I would suggest an instant access cash ISA. The maximum you can put into a cash ISA during the current tax year is ?5,340 and the interest is tax free. You can compare these here...
http://www.money.co.uk/savings-accounts/instant-access-cash-isas.htm
You could then put the remaining ?2,460 into an instant access savings account...
http://www.money.co.uk/savings-accounts/instant-access-savings.htm
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