Where to put £80K

clazzamac

Hi there - I am new to this so forgive me if this question has been asked before. I did see the £100k posting but did not really get what it was saying.

I have £80k sitting in my NatWest current account having just sold my flat. I have already cleared all my cards etc (hooray) and now want to put the remainder away for the short term until my situation becomes clearer. Obviously i want the best return and so would be willing to put it away longer term if there was a real difference in performance. Any advice from you clever people (I have no current savings.)

Thanks in advance! Clazzamac.

ReportInvestor

Hi clazzamac and welcome to the site .

3 or 4 year fixed rate savings bonds are currently offering the highest rates - 5.1 to 5.2%. London Scottish Bank has a 5.2% 4 year savings bond.

For easy access you can still try ICICI Bank for 5.15%, First Direct for 5% (but 0% in the month you withdraw savings) and Nottingham Building Society at 5% (Phone Direct account).

You can get a one year fix at 4.96% from Derbyshire BS if you don't need access to your money & think the Bank of England is going to reduce rates in 2006 but don't want to tie up your money for 4 years.