I am 59, husband is 63

[fishonabicycle]

We hav some money left over from sale of our last home - around 50k. Should I get us each an ISA (if so which please) or just try to find high interest savings account. I am just so uninformed about these thing. Thank you.

what’s your pensions like?!

Also need to consider if you're going to need the money in the short term eg 3-5 years) and your attitude to risk. Plus you need to understand how savings interest is taxed.

It's worth educating yourself a bit more about these matters as unless you have a six figure sum, you can manage all this yourself without paying an IFA.

The financial flow chart run through considerations in a sensible order, but at your stage of life, you'll be somewhere between steps 6 and 8, but might have missed out some of the earlier steps along the way.

https://ukpersonal.finance/flowchart/

Meaningful Money is a good resource and they recently did a whole podcast series going through the flowchart in detail.

https://meaningfulmoney.tv/category/podcast/season-25-finance-os/

I have personal pension of around £16k pa. Husband has nothing.

We're almost at the end of the tax year, so I'd stick £20k each (assuming you've not paid into any ISAs this tax year) in a high interest, easy-access, cash ISA right now, and add the remainder after 6 April. Then you can think about things in a more relaxed fashion without worrying about taxable interest building up.

https://www.moneysavingexpert.com/savings/best-cash-isa/

Do you mean a cash ISA? I think some PPs have assumed you meant stocks & shares ISA.

@NoBinturongsHereMate's suggestion is good. Put it in an easy access cash ISA before 6 April and that will give you time to think.

Interest rates on ISA are generally higher on fixed term ISAs (eg 1, 2 or 3 years). Downside is if you want to access the money there is a penalty to pay (loss of a certain amount of interest).

But there are also limited access ISAs, eg allowing 3 withdrawals a year, which pay higher interest than easy access ISAs.

Interest rates on ISA are generally higher on fixed term ISAs (eg 1, 2 or 3 years)

Usually, but at the moment they are about even for a 1-year fix, and lower for longer term.

@NoBinturongsHereMate - Yes, I've just noticed that with Leeds Building Society. 4.80% for a 1-year fix; 4.45% for a 2-year fix; 4.15% for a 3-year fix. Strange times!

https://www.leedsbuildingsociety.co.uk/savings/cash-isas/

Online ISA with unlimited access: 4.75%
Six Access ISA (branch or post): 4.10%
ISA Saver or E-ISA: 2.45%

OP: some suggestions for building societies that consistently offer good rates of interest:

Leeds Building Society
Coventry Building Society
Kent Reliance

Also have a look at whoever you bank with as sometimes they have a good account. Although not Barclays!

An important note about moving money from one ISA to another: you're allowed to do that without losing the tax-free status on interest received by transferring the ISA money. This involves filling out a form and sending it to the new provider, who will then obtain the money from your existing ISA provider. Do not 'withdraw' the money from an ISA and use it to open a new ISA, as that will count as 'new' money and will count against that year's ISA allowance.

So you can open an easy-access ISA in this tax year and then decide what you want to do with it in the long term and transfer it to a different ISA later.

Thank you all very much.

I can see Moneybox have a good rate for acash ISA - are they reputable?

Yes, they're fine - FSA regulated and FSCS cover.

Plum has a slightly higher rate at 5.17% for the easy access cash ISA.

Make sure you read the T&C’s.
Both Moneybox and Plum have conditions of no more three withdrawals over the year and maintaining a minimum deposit to receive their best interest rates on Cash ISAs.