Where to deposit my money.

[horseshoes]

I have �80K to invest. I know the interest rate is not at its best, but I don't want to gamble in any way with this money. I need your advice on where to put it. I was thinking, however, of getting the max of premium bonds just for 12 months. Do premium bonds have the �35k compensation that banks have. What would you do? I have a meeting in my bank (HSBC) next week and obviously they will want to persuade me to keep it with the, but would that be the best thing to do? I have got the max ISA. Thanks in advance.

[bednobs]

tbh if i had that much money i would pay for financial advice, not ask a load of random strangers. However, if you want some bank account details of where to deposit your money, i would be happy to provide them. Dunno about "returns" though - would that mean i'd have to give it back to you?

[Curly13]

We have around 90k in a high interest account. We receive about �450 a month in interest on this. (including a bonus for not withdrawing any) However someone put the frighteners on us the other day saying if the bank went bankrupt they would only be able to give us 35k back!!

[Ice.Maiden]

I have a friend who invests in high-interest bonds. These are sometimes unsafe, but he invests in roads and highways, which've NEVER lost him money in the 30 years he's been doing it. His first investment was a mere �3000. It tripled after just a few years, and the whole lot was ploughed straight back in., making him a very handsome profit. As well as this, money was put into property (NOT a good bet at the moment), but which gave him enormous profits at the time. He swore he was going to make his first half million before he was 40. He did, and now lives extremely comfortably. See an independent financial advisor.

[robbieswife]

if you invest in any government owned banks.ie national savings AND northern rock ,then ALL your savings ARE safe,alternatively,the post office have some very good ones on offer at the moment!!

[horseshoes]

Thank you for all your answers.

[sqad617]

Curly 13, the �35,000 compensation is per person NOT per account. You say "we" so I assume it is a joint account in which case it will be �35,000per person i.e �70,000 for a joint account.

[silverbars]

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[horseshoes]

No thanks you silverbars but thanks for the offer.