Saving accounts for interest or investment

[ukstack]

So As much as i love Silver and Gold i cant put all my money into Gold or silver as an investment for me and my son

 

So my question is does anyone have any good ideas on whats the best form of investment if you was to place it in a saving account of some type ?

 

All i can seem to find is accounts that give you 2% on a fixed yearly deal or the like 

 

Is an isa really the only best saving accounts these days or am i missing something here ?

 

Any sort of help would be great guys :] 

[Pete]

If you are saving for the future say 5 years or longer then get yourself a NISA and select income generating UK Equities.

My recommendation is www.hl.co.uk as a super organisation, low fees and fantastic on-line access to accounts, portfolio valuations and trades.

Open your NISA on-line and maybe set up a monthly direct debit to feed your investment unless you can pile in now - maybe not a good idea as valuations are quite high right now ( but could continue to rise of course ). You may benefit from pound / cost averaging over time but you also miss out valuable dividends and some of these are excellent at the moment.

Choose a fund or two from their recommended top 150 UK Equity Funds paying good dividends and have divs automatically reinvested into the same funds.

With ALL equity investments there is always a warning about risk etc, so check this carefully before investing too much to see if you are prepared to take risk.

Historically, such investments make real money whereas the best bank deposits don't even keep place with inflation.

ALWAYS, ALWAYS weigh up the pro's and con's and make your decision based on your attitude to risk.

On the assumption that you are a PM stacker then you are already risking your cash in an extremely high risk area so anything else is relatively low risk by comparison.

Please note that I am not a financial advisor so do your homework but I am sharing my experience in the hope it helps you make an informed decision.

[Keithoil]

I would consider a Santander 123 account as this will give you 3% on up to 20k, I get around £40-50 / month (NET) interest on mine.

 

You do have to transfer some standing orders over and also pay in I think it is £round £600/month.

 

You also get money back on your Fuel, Bills, etc hence the 123 account.

 

http://www.santander.co.uk/uk/current-accounts/123-current-account

 

Also easy access to your money should you need it.

 

But if you have the cash I would also as Pete did recommend a NISA.

 

My NISA is with Santander also getting 2.3% on my cash but only until they put the interest rate up!!!

[ukstack]

Thanks guys i will look into an nisa i have had a quick look before but will defiantly read more about them now

 

Thing is gambling with £500 dont scare me to much gambling with 5k+ does haha thats why iv only really been looking at the so called isa stuff and fixed terms of 3-4-5years stuff you know