Lump Sum

hi all, where's the best place to put a one off lump sum of 14k at the moment? Thanks sam

Reply to
Sam
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With the amount of information you have given here (square root of SFA) , the answer is undoubtedly "my wallet".

Reply to
Tumbleweed

Absolute nonesnse. The money is more liable to theft in yopur wallet than it would be under my mattress.

(Oh and 3000 in the best cash ISA you can find, the rest depends on own your requirements.)

Reply to
Blackthorn

Its an amount left over from a house sale. i want to store it then get another another house at a later period.I already have a mini isa.

Reply to
Sam

It would be even less prone to theft in my bank account!

Reply to
Tim

If you want to keep it pretty "risk free", just find the best savings account you can on the various websites that compare them. I personally use ING Direct, and find them pretty good.

Reply to
Jeremy Sanders

Myself likewise, but I've just received email announcing the end of 5%:

--quote We are writing to inform you that as of 1 August the ING Direct savings rate will be 4.75% AER*. Over the past few months the overall trend in savings rates has been down and in response many of our competitors have already reduced their rates. We have held our rate for as long as possible, however this continuing downward trend now requires us to act.

This still represents a very competitive figure in the marketplace and applies to all ING Direct customers regardless of the balance they hold.

We remain committed to providing a consistently good rate to our customers and are proud of the open and honest approach we bring to the savings market, with a straightforward savings account with no hassle or catches.

--unquote

Reply to
Ronald Raygun

Except they are cutting their rate to 4.75% from 01 Aug so it may be time to look for another deal elsewhere. Had a fairly good run with Ing, but they've now slipped back to 'mediocre'.

Reply to
GSV Three Minds in a Can

So who would you recommend now? I'm in a similar situation. Thus far I've had it in a Northern Rock account, with interest paid monthly (not the greatest return, but the bit of income is useful). However, monthly interest isn't necessarily a priority.

Basically I want instant access (online only is fine) and as good a rate as possibly for something like 15,000 or so.

Cheers,

Andy

Reply to
Andy Hawkins

Dunno if it is the best but if you open a nationwide current account and an esavings account with them you can get 5% on the esavings account and have it available via cash card or debit card straight away so long as you can get internet access to do an instant transfer form esavings to current account. I'm sure there are many similar choices.

Reply to
Blackthorn

Then why didn't you say that at the outset? If you were in a motoring NG would you ask what is the best car to buy, with no further information of your requirements?

It would also help if we knew how long you were keeping it in store. One month, 6 months, 5 years, 20 years? Do you mind taking any risks?

Rob Graham

Reply to
Rob graham

In my wallet it would soon be spent thus saving any worries about theft, which would definitely be there were it under your mattress. (BTW, did you know there was a rather large spider under there last time I looked?)

Reply to
Tumbleweed

The large spiders save me several pence worth of cat food thank you.

Reply to
Blackthorn

Cahoot offer 5.1 but interest paid annualy.

Hope this helps

Andy

Reply to
me

Hmmm - I never got that. Maybe I'll get the postal version...

Reply to
Jeremy Sanders

If it's short term, have you considered Premium bonds?

Total luck but my research shows that you usually get a reasonable rate of interest compared to instant access accounts...and it's fun!

I'm looking for a similar short term place for some funds I need for a building project. My IFA has recommended investing with ING Direct (UK) @ 4.89%. They offer a consistent rate and monthly interest. Comments anyone?

Crom

Reply to
crom

X-No-Archive: yes In message , snipped-for-privacy@damm.demon.co.uk writes

When ING launched their 'no strings' ING Direct savings account over a year ago, someone on this ng commented about honeymoon rates and strings. So far, so good. They haven't introduced banding of their rates... yet.

On the other hand I wonder if they've been successful at soaking up funds from their rivals? If they had, I would've expected to see a rash of similar deals from other banks. Apart from that, I can't add much other than that their package does the job -- what it says on the tin.

Their website can be a bit flaky at night. I rather wish they'd say that the service is down before one enters passwords and other details but it's a minor whibble.

Reply to
JF

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