£10K fund matured - where now?

Newly_retired

My NU investment has just reached its 5 yr anniversary guarantee and I chose to cash it in. Am not inclined to reinvest it, as have lost all confidence in investments in the current climate and not sure when I will need this money( though I am not pulling the rest out ) but once my decent rate savings account runs out in July, where to put it?

mini_lidi

ISA only as its tax free?

leveller2911

I have the same problem, £22k maturing in 3 weeks, ISA,s are paying pathetic rates so im gonna give the premium bonds a go for a year or so.At the end of the day if you dont win any prize your only losing out on a pittance of an interest rate.....PS The only way that banks will re-address the low rares for savers is if we all give them a "bloody nose" .....

opinions4u

Couple of options:

AA 3.75% fixed for a year

Halifax ISA Direct Reward 3% tax free for a year and you can pay in £3,600 this tax year and top it up on 6th April as well - and get out of it easily as it allows 4 withdrawals too.

Do a bit of your own research at www.mysupermarket.com/savings too - then you can get a wider view.

The Premium Bonds prize pot is, I believe, 1.8% and likely to fall. As a savings vehicle it's not a good call. If you like to gamble 100% of your interest in these times that's up to you. I wouldn't bother though.

Lokolo

I could reeaaaally do with some money atm actually....

Pssst

Lend it out on ZOPA ,spend it or set fire to it.

theGrinch

enjoy it.

premium bonds are no saints when it comes to interest rates.

leveller2911

theGrinch wrote: »

enjoy it.

premium bonds are no saints when it comes to interest rates.

I agree, but what are you gambling with, rubbish interest and you do have a "chance" of beating bank interest rates.Like ive said before, iv,e had enough of banks taking the p1ss out of savers, for me its either PB or I take it all out and stick it in a safe at home...... no brainer for me ..:D

Lokolo

leveller2911 wrote: »

I agree, but what are you gambling with, rubbish interest and you do have a "chance" of beating bank interest rates.Like ive said before, iv,e had enough of banks taking the p1ss out of savers, for me its either PB or I take it all out and stick it in a safe at home...... no brainer for me ..:D

- PBs have an average return of 1.8% but most people its a lot less
- At home you have 0% with risk of losing the money

In banks you have security, and you can fix rate to make sure banks can't lower the rate they give you....

No brainer for me...

wearside_2

opinions4u wrote: »

Couple of options:

AA 3.75% fixed for a year

Halifax ISA Direct Reward 3% tax free for a year and you can pay in £3,600 this tax year and top it up on 6th April as well - and get out of it easily as it allows 4 withdrawals too.

Do a bit of your own research at www.mysupermarket.com/savings too - then you can get a wider view.

The Premium Bonds prize pot is, I believe, 1.8% and likely to fall. As a savings vehicle it's not a good call. If you like to gamble 100% of your interest in these times that's up to you. I wouldn't other though.

The AA is a good rate but is its funds protected in the same way as a UK Bank?

Lokolo

wearside wrote: »

The AA is a good rate but is its funds protected in the same way as a UK Bank?

The deposit-taker for the AA savings accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority.

Yes part of HBOS, so £50k in the whole of that insitution is safe.