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Savings advice wanted

I have got just over 3000 savings in an ING account paying 4.75%. I've just received a letter stating they are not going to put heir rates up. I don't need to touch this money for at least 6 months and possibly not for another year after that. I'm a basic rate taxpayer and my question is: Should I open a mini cash ISA now even though it's nearly December or should I put my savings elsewhere and then maybe open an ISA in April? Any advice would be greatly appreciated. Many thanks Dave

Reply to
DB
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This is just my opinion, not advice. I'm not an expert in finance, but in that situation I would put the money in the cash ISA before the end of the FY. If you wait until next year, not only will you pay tax on ~four month's interest, but you will loose this year's ISA allowance.

If you put 3K in the ISA this FY you will be able to put another 3k in after April (if you are fortunate enough to have another 3k of course).

Gareth.

Reply to
Gareth

Thanks Gareth I think I'll do as you suggest Dave

Reply to
DB

Choose Savings - Tax Free on the FSA comparison site for the best deals -

Daytona

Reply to
Daytona

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