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ALI_1
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Hi i have recently sold my e30 m3 which i have had in the drive for a real long time anyways i sold it £8500 :D i put the cash in to my account which is a saving's account where my wages go in to aswell i want more interest on my money as i dont plan on touching the cash for a long time what account would best suit me any help would be appreciated

am with yorkshire bank

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Hi there pal,

I too sold my car and the money from that has gone into an ISA. This is a fixed rate account that cannot be withdrawn from, other than in emergencys. It has quite a high rate as well, for this reason.

I am with the Royal Bank of Scotland.

Jamie

Surely the key point about a cash ISA is that the interest paid on the account does not attract income tax and that there is therefore an annual limit on the amount (£3,000) that can be paid into the account.

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make 3 accounts

i would

Can only contrubute a maximum of £3,000 in any amount of ISA acounts. So having three accounts would not help. If you contributed more than £3,000 in a tax year you will attract Mr Tax Man.

To be honest most bank account are rubbish on the high street. I had a savings account of 10% fixed for 12 months and by the time I had saved up a nice little sum, I got taxed quite alot. If your after long term investment, you should consider them savings accounts which make small amounts of stock options for you.

ING however are pretty good for svings accounts and they pay a montly interest and you can withdraw fairly easy to.

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I was told there is no limit to the amount of ISA's you may open. Once I've filled mine, I will be opening up another.

J

Correct....

There's no limit to how many ISAs you can open, but the allowance is £3000 a year cash, and some other amount for shares (but can't remember)

Correct.....

Thus meaning, im correct :D

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The financial year ends APR 15th.So get down to bank and whack in £3k and then after APR 15th whack in another £3k.You can open 1000 ISA accounts but as mentioned above the max yearly amount is £3k,so you can put £3 in each but not exceed £3000,its just better to keep it in one and so therefore maximise your interest.Alliance and leicester are offering 5.80% on all balances above £5k,with a max of £100k.If you put in £8.5k as you mentioned you will see a return of £33 each month.

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