Im looking to invest in my first ISA account and am a bit unsure whether to go for a fixed or a variable rate. The best variable rate available is 6.5% and the best fixed rate is 5.75%. I have been keeping an eye on things and recent reports suggest interests rates are likely to rise, therefore the variable rate is unlikely to fall below that of the fixed. Im looking to deposit around £450 - £500 to open the account and then make regular contributions upto the £3000 limit. I am new to saving and starting to save a deposit to get on the property ladder so obviously want to make the correct decision. Apologies if any of this sounds daft but i am looking for some reassurance and advice from the more clued up than I.
Thanks in advance for any advice, it will be greatly appreciated.