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Porsche
29-03-2006, 01:20 AM
In terms of investments where your cash is relatively safe, but also flexible in that you can convert to cash quickly and easily, what would anyone recommend. I have an ISA but also a student bank account that pays me literally pennies of interest on a decent amount of money. :(
I really don;t have a clue but have looked at bonds and someone recommended an Indian bank that paid decent interest.
Any suggestions from more experienced investers.

Thanx

James Smith
29-03-2006, 09:54 AM
Well if you want low risk easy access, probably the last thing you want it to stash your cash offshore and be subject to changes in exchange rates.

ISA's are a good idea as the interest is tax free, however as a student you shouldn’t be paying any tax on your savings anyway (unless you earn more than £4.5k in part time jobs). First step - ask you bank for a form to receive your interest gross.

I personally would look at some of the internet savings accounts for better rates of interest - your current account will always be ****.

Try something like money supermarket to compare rates.

http://www.moneysupermarket.com/savings/

Just be careful about “special offers” that only last about 5 minutes – so you may need to be a “rate tart” and move from account to account every year or two if you want the best rates.

Porsche
29-03-2006, 02:06 PM
thanx for advice

TheJoshM
29-03-2006, 04:39 PM
You might also want to check out www.moneysavingexpert.com, it's a great source on everything to do with money.

amz
29-03-2006, 08:34 PM
Originally posted by Porsche
In terms of investments where your cash is relatively safe, but also flexible in that you can convert to cash quickly and easily, what would anyone recommend. I have an ISA but also a student bank account that pays me literally pennies of interest on a decent amount of money. :(
I really don;t have a clue but have looked at bonds and someone recommended an Indian bank that paid decent interest.
Any suggestions from more experienced investers.

Thanx

I think that "indian bank" is ICICI which offers a nice 5.5% if I recall (its not offshore). It's actully owned and operated by HSBC or one of the other big players. They have a number of branches in England. I was looking at getting an account with them myself.