best risk free way to store £300k?

enterthe

What is the best risk free way to store £300k of cash?

At the moment the best thing I can think of is to spread it out over 6 deposit accounts of £50k each.

Swans1912

enterthe wrote: »

What is the best risk free way to store £300k of cash?

At the moment the best thing I can think of is to spread it out over 6 deposit accounts of £50k each.

Or 3 accounts in joint names or Northern Rock.

dacouch

The Irish banks give an unlimited guarantee backed by Irish Government, the post office account is with an irish bank so you benefit from the protection there.

The Irish government look pretty secure but you never know (The UK's credit rating has just been down graded to below Coca Cola and Mcdonalds!!!)

It would be an idea to spread the money around, bear in mind some of the banks are owned by each other and trade under one licence so you could put it into two "Different" banks but only get one lot of protection. There is a website that will tell you somewhere.

davidmckay

Or National Savings & Investments (NS & I) is government owned, so comes with a 100% guarantee....well at least assuming the whole country doesn't go down the pan, in which case your £300,000 would be worthless. Maybe you should put it into property:D

dacouch

Shares in companies that deal with Liquidating or Administering Companies would be a good bet!

emmaJenk_2

...think you could buy Northen Rock for £300K :rotfl:

I highly recommend premium bonds (100% safe) although you may need to check if there a limit to how much you can save.

socrates

Try the Savings Board with this one

socrates

emmaJenk wrote: »

...think you could buy Northen Rock for £300K :rotfl:

I highly recommend premium bonds (100% safe) although you may need to check if there a limit to how much you can save.

Limited to £30k per person