Hi Im a student at university with one more year to go, but potentially a postgraduate afterwards.
I have £7000- 9000 in bank accounts. Whats the best way to make some money out of this other than gambling lol! i.e. a fixed rate bond, or an ISA. I dont need the money for at least one year but I would like access after one year just in case I need it for a postgrad
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- Thread Starter
- 23-07-2009 23:39
- 23-07-2009 23:49
Have you tried looking at http://www.moneysupermarket.com/savings? A one-year fixed-rate/term savings account is likely a good choice for you if you to take minimal risk with your investment.
If you're a university student, I assume your annual income is less than £6,475? If so, you won't benefit from using an ISA over a standard savings account as a short-term investment, as you won't have to pay income tax on the interest regardless. Make sure you complete a form R85 and return this to your bank to get interest paid without deduction of tax.