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Best way to earn a high rate of interest over a year please.

  •  Fri, Aug 01 2008, 4:03 PM

    Best way to earn a high rate of interest over a year please.

    Hi there,

    First time post from a newbie here!

    I'm 27, in full time employment with a desperate need to go travelling for a year or so.

    I've always struggled to save money but last year I opened up a mini-ISA with ING Direct. I've now got my hands on a little bit more money and also intend up selling A LOT of things to get some more money to save. Don't get me wrong, I'll only have between £1,000 - £3,000 to start off saving - so not a huge amount, but I would like to find the best way of getting the highest amount of interest possible.

    I am confident that I can leave the money untouched for one year and I could also deposit a minimum lump sum of £1,000

    I am wondering whether I should just continue to add this money into my mini-ISA, or try one of the other options which I have read about on this site:

    Savings account with ICICI Bank (HiSAVE Fixed Rate Account @ 7.20% AER).

    Halifax International Regular Saver Account. 10% AER/Gross PA for one year, then transferred into the Sterling Variable Rate Halifax International Web Saver account.

    If allowed, change my mini-ISA account to one offering a higher rate of interest.

    As I don't really have a great knowledge when it comes to saving the above is only really what I have found to be on offer. So any other options anyone can suggest will be gratefully received.

    I look forward to reading your advice.

    Many thanks.

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