[delboyuk2005uk]

I heard about Isa's is this the best way to earn money on your money with no risk factor?

How many ISA's can I have?
How much money can I put into them?
When is the best time to put the money into a ISA?
What are the best deals about at the moment?

if someone can answer these and give me a bit more advice please!

[Digger]

Originally Posted by delboyuk2005uk

I heard about Isa's is this the best way to earn money on your money with no risk factor?

How many ISA's can I have?
How much money can I put into them?
When is the best time to put the money into a ISA?
What are the best deals about at the moment?

if someone can answer these and give me a bit more advice please!

Chatting with my other half the other day about this. According to her gleaned the following. . .believe you are allowed a max of 3 ISA's, they have a limit of £3k each. There is no best time the way I understand it. Just pick one with the best rate and obviously read the small print. My bank is Alliance and Leicester so am considering taking one of theirs. Any info on what is a good savings account would be useful. Again A&L are doing a 12% product at the moment but as ever strings are attached! Annoyingly I am not eligible as I have a current account with them already

A&L ISA
A&L Premier Regular Saver EDIT - Just read the small print, designed to attract new current account holders; only a 12 month product after which closed and funds moved to current account; monthly payments between £10 and £250; max balance of£3000

Let us know what you decide

[delboyuk2005uk]

thanks for the advice. am gonna wait for this thread to build up a little bit more before i decide

[andykn]

From iii.co.uk:

How much can I invest each year?

You can invest up to £7,000 in your ISA every tax year (which runs from 6 April to 5 April the following year) in a mixture of funds, shares and cash. You can invest the entire £7,000 in shares and/or funds if you like, but you can only invest up to £3,000 in a cash ISA.

Before you decide where to invest you need to decide whether you want a Mini ISA or a Maxi ISA:

Mini ISA

You can invest in up to two Mini ISAs in a year.

Investing in a Mini ISA means you can have one ISA for your cash allowance (investing up to £3,000) and one ISA for shares and/or funds investments (investing up to £4,000).

One advantage of this is you can choose different providers for your shares/funds ISA and your cash ISA, allowing you to shop around.

Maxi ISA

You can only invest in one Maxi ISA in a year.

With a Maxi ISA you will be putting all your investments with one provider. Within your Maxi ISA you can invest in a mixture of cash or shares, or funds. You can only invest up to £3,000 in cash, but you can invest up to £7,000 in shares and funds. People who choose Maxi ISAs are usually interested in using the majority/all of their allowance on shares and funds investments.

[darth kevinho]

I have one of these. What about premium bonds?

[lord-dudester]

you can put as much as you want into premium bonds, up to a total of £30k no risk attached to them and you can pull your money out whenever you like

when it come's to investing money, risk and reward go hand in hand, so taking a few risks and being willing to tie you money in for a fixed term, will always give you a better rate of return

[Digger]

Originally Posted by darth kevinho

I have one of these. What about premium bonds?

Bought £200 of these over the www couple of days ago. Will add to it on a regular basis and see how it fairs over the next 12 months. Seems safe bet though. . .

[hornydragon]

ISa's are good for secure caspital but if you are looking to save X£££ a month rather than invest a LUMP there are sopme very good offers on regular savings accounts Yorkshires looks the best to me can save £500 pcm up to £20k and get 7% AER, still have to pay tax tho but worth considering if you have used your ISA annual allowance to build up some capital for the next years ISA

[neilmcl]

This site may be helpful http://www.find.co.uk/