Any financial peeps here, wondering where the best place to stick 7k for 7 months and what would i earn over that period....

ta.... and dont say in your pocket cause you aint gettin it...lol

You could try moneyfacts to compare high interest savings accounts:
[url="http://www.moneyfacts.co.uk/"]http://www.moneyfacts.co.uk/[/url]

Or buy 7k worth of premium bonds from National Savings:
[url="http://www.nsandi.com/products/pb/index.jsp"]http://www.nsandi.com/products/pb/index.jsp[/url]
Your money will be totally safe, its tax free and you have the chance of winning £50 to £1,000,000 each month (which can be automatically added to your bonds). When I had several thousand in premium bonds I was quite regularly winning £50's so this can equate to reasonable interest with the bonus of being tax free too (unlike any savings account).

.........and thats why ive given my fee for this ad to great ormond street.


id agree with bondage

hmmm nver thought about ye ol bonds, sounds like a good idea..

How about half in bonds and the other half in ING, they give 4.5% at the moment

possibly

Safe Oil stock - XOM, shell, BOP etc

Oil is set to hit $100 if the slimeys keep pummeling the dog eaters

[quote name='Mr Morse' post='371187' date='Aug 2 2006, 09:17 PM']Safe Oil stock - XOM, shell, BOP etc

Oil is set to hit $100 if the slimeys keep pummeling the dog eaters[/quote]


From some of your previous posts, you don't happen to work for XOM do you Mr Morse

[quote name='DeckerUK' post='371220' date='Aug 2 2006, 10:14 PM'][quote name='Mr Morse' post='371187' date='Aug 2 2006, 09:17 PM']
Safe Oil stock - XOM, shell, BOP etc

Oil is set to hit $100 if the slimeys keep pummeling the dog eaters[/quote]


From some of your previous posts, you don't happen to work for XOM do you Mr Morse
[/quote]

I wish mate....

Did 14 years with the Burger....

Into something a little different now

SORRY

[quote name='Mr Morse' post='371229' date='Aug 2 2006, 10:26 PM'][quote name='DeckerUK' post='371220' date='Aug 2 2006, 10:14 PM']
[quote name='Mr Morse' post='371187' date='Aug 2 2006, 09:17 PM']
Safe Oil stock - XOM, shell, BOP etc

Oil is set to hit $100 if the slimeys keep pummeling the dog eaters[/quote]


From some of your previous posts, you don't happen to work for XOM do you Mr Morse
[/quote]

I wish mate....

Did 14 years with the Burger....

Into something a little different now
[/quote]

Cool, taking it reeeeel easy I hope.




Oops

Send it to me.

I'll give you back TRIPLE in 6 months. HONEST!

To be honest for 7k it's going to be nominal, and not much different between the options mentioned above.

Maybe hang on a bit longer and place a larger sum off-shore?

[quote name='purvesh81' post='371241' date='Aug 2 2006, 10:42 PM']To be honest for 7k it's going to be nominal, and not much different between the options mentioned above.

Maybe hang on a bit longer a place a larger sum off-shore?[/quote]


Im suprised im the first person to say spend it on your car LOLOL

[quote name='Ellz' post='371245' date='Aug 2 2006, 10:48 PM'][quote name='purvesh81' post='371241' date='Aug 2 2006, 10:42 PM']
To be honest for 7k it's going to be nominal, and not much different between the options mentioned above.

Maybe hang on a bit longer a place a larger sum off-shore?[/quote]


Im suprised im the first person to say spend it on your car LOLOL
[/quote]

Dude we tryin' to be serious here

forex fixed term deposit. NZD has some high interest.

[quote name='purvesh81' post='371246' date='Aug 2 2006, 10:50 PM'][quote name='Ellz' post='371245' date='Aug 2 2006, 10:48 PM']
[quote name='purvesh81' post='371241' date='Aug 2 2006, 10:42 PM']
To be honest for 7k it's going to be nominal, and not much different between the options mentioned above.

Maybe hang on a bit longer a place a larger sum off-shore?[/quote]


Im suprised im the first person to say spend it on your car LOLOL
[/quote]

Dude we tryin' to be serious here
[/quote]

I think some people forgot that this was the LOC IFA forum

Give it to ERNIE until you have a larger amount to invest off-shore, you should get some return and it quite easy to get at if it decides to rain heavily one day - my two penneth

It depends what risk factor you want to put on your money. 7 months is short term so its best in cash somwhere, see option a):-

Best low risk would be to put £3000 in NS&I cash ISA (5.05% tax free) and the rest in ICCICI bank HiSave account (5.15%).

If you want a higher risk you could put into a Unit Trusts or OEIC's or maybe even shares, but you need to research what you are buying. These are more volatile and better for longer term investments.

If it were me, I'd go for option a)