Religion & Spirituality1 min ago
Any Thoughts
24 Answers
Where would be the best risk free place to lodge 10000 to 15000 for a good rate and easy access .Dont know enough to go into stock and shares just something straight forward .Any thoughts .
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Go around all the Banks and Building Societies and check what they have on offer.
If you want easy access, then a "notice" account is probably not for you
( this is where you have to give so much notice before taking your money out...if you want instant access, than you will lose the interest on the period of notice that you are not giving )
Having said that, interest rates are very, very low at present, so the loss of interest on a few pounds will not make much difference either way.
Typical interest rates are in the order of less than 0.5 %. Use up your Cash ISA allowance first. Here is what Santander is offering at the moment :::
http://
As you can see, the interest on such a modest sum as you have to deposit, is really not worth very much, but your capital will be safe, as long as inflation stays as low as it is at present.
If you want easy access, then a "notice" account is probably not for you
( this is where you have to give so much notice before taking your money out...if you want instant access, than you will lose the interest on the period of notice that you are not giving )
Having said that, interest rates are very, very low at present, so the loss of interest on a few pounds will not make much difference either way.
Typical interest rates are in the order of less than 0.5 %. Use up your Cash ISA allowance first. Here is what Santander is offering at the moment :::
http://
As you can see, the interest on such a modest sum as you have to deposit, is really not worth very much, but your capital will be safe, as long as inflation stays as low as it is at present.
^ or just go through the Martin Lewis/MSE site
http://
http://
Premium Bonds are not an investment, only a gamble.
They pay no interest at all, and if you haven't won any prizes, and there is no guarantee whatsoever that you will, then your capital shrinks with the effect of inflation every year. Even with an inflation rate of 1%, £100 will be worth only £99 at the end of the year.
If you want to gamble, and can afford to do so, then go ahead, but if this the some total of your life savings, then stick to a Bank or BS, where you will get some interest, albeit not very much.
They pay no interest at all, and if you haven't won any prizes, and there is no guarantee whatsoever that you will, then your capital shrinks with the effect of inflation every year. Even with an inflation rate of 1%, £100 will be worth only £99 at the end of the year.
If you want to gamble, and can afford to do so, then go ahead, but if this the some total of your life savings, then stick to a Bank or BS, where you will get some interest, albeit not very much.
Not totally sure what you mean, Mikey. Yes many are paying around 1.5% but they are well above the 0.5% you mentioned. You can get 5% on up to £2500 with nationwide (yes for 12 months only) , there are regular savers paying 2-3%, Tesco are paying 3%, Lloyds pay 4%, BoS pay 3%- etc, but they are limited to certain balances (eg £3000 at tesco). weecalf can get around 3% overall by spreading his money around- but may need to meet certain criteria such as minimum payments or minimum number of DDs. It's not easy though and you could argue it's not worth the hassle for annual total interest on £10000 of around £300 pa
