Where to save £50k

flyingbanana_2

Afternoon everyone,

I am posting this on behalf of my dad as he is wondering what best to do.

He already has maxed out his ISA allowance for 2008/09 and he really just wants one account to put it in, unless anyone has any other ideas what he should do with it.

Thanks

lolly5648

You will have to give more information: does he want easy access or does he want a fixed and either no access, or a few withdrawals a year

flyingbanana_2

lolly5648 wrote: »

You will have to give more information: does he want easy access or does he want a fixed and either no access, or a few withdrawals a year

He would want easy access but would be fine with the withdrawls being limited to 2-3 a year.

lolly5648

I was going to suggest a couple but the rates and conditions seem to have changed on 2 Jan. To get up to date info I suggest you look at Martin's best savings accounts which is updated daily*(see info bar at top of page) as there are other links there.

*http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

scrufgirl

look into tesco internet saving , its interest now is over 5%, you can just put in a lump sum, or, invest your lump sum and carry on putting money in every month, up to you, you can withdraw money when you need it without any penalties, or save your money and get a good rate of interest, but go online and check this out for yourself, i save with Tesco Internet Saver and find it to be the best interest account so far, if your a non tax payer you will also get the full interest rate, they will fill in this form for you when you go online and register for this account, but before you decide, check this site out for yourself.,
I also have a lump sum in a 1 year bond, at 5.75% fixed rate, when this matures in March, i will be looking to put this in my Tesco internet sav er account if i cannot find a interest rate to top what Tesco is offering, but as you will see, there is not alot of banks/building societies ect who can better Tescos deal at the moment, do your homework, and check out all the best rates of interest around for yourself before you decide were to safely put your savings.