Savings advice

[Grahamm]

The mother inlaw has 9 grand sat in a bank doing nothing,making nothing,

so whats a better way to invest this witout risk?

Get as much as possible (ie £5760) into a Cash ISA before the 6th of April, then after the 6th (ie a new tax year) she can put the rest of it in.

This gives instant access, tax free interest and is risk-free as it's covered by the Financial Services Compensation Scheme which protects up to £85,000 in one Financial Institution.

The best Instant Access rate at the moment is 1.75% (but remember that's tax free). You can get 2.05% but that requires locking it away for 2 years. Also the 1.75% may have strings (eg have a bonus for 1 year and then drop down again, so always check for these as you may need to move the money next year).

See Martin Lewis' Money Saving Expert site for more information.

PS Premium Bonds aren't worth it see http://www.moneysavingexpert.com/news/ba...y-worth-it