The dividend income from the top 100 shares on the London Stock exchange averages nearly four per cent.

Purely at random, I checked one of the local building societies last Saturday morning, October 25. The one I visited was the Principality but it could have been any of them. Their standard Cash ISA pays 0.6 per cent. Or, it could pay something they call the ‘promise rate’, which is 1.25 per cent; provided that the money is left there at least until April, and only two withdrawals are made between now and then.

One more proviso - 30 days notice has to be given for each of the two withdrawals, or the rate zooms back down.

Let’s be clear, building society deposits, even within an ISA, do not keep pace with inflation, despite its current low rate of 1.2 per cent.

While the conditions imposed to get this promised rate would baffle a Philadelphia lawyer, it isn’t all the society’s fault.

Nobody knows when interest rates will rise or by how much. The best brains are guessing November 2015 and a rise of 0.25 per cent. Don’t hold your breath. They’ve guessed before and been wrong.

The best route for anyone with a lump sum to tuck away is a Stocks and Shares ISA in a well-diversified fund, especially if you are wanting to invest for five years or more. Which fund depends on you and you will benefit from professional advice, not just now but over the period of the investment.

Any decent financial planner like Kymin, will offer you a free first meeting, without obligation.

Doing nothing is not an option. Deposits are not going to be rewarding any time soon.