Where to put 120K??

ipri

Hi..our N Rock fixed term bond maturing soon,,,,they are offering a 2.2 net one year bond...I like the security....but any ideas to increase return?...already have money in Halifax...dont want to go abroad. thanks

johncolescarr

ipri wrote: »

Hi..our N Rock fixed term bond maturing soon,,,,they are offering a 2.2 net one year bond...I like the security....but any ideas to increase return?...already have money in Halifax...dont want to go abroad. thanks

If you want complete security, select a few of the top savings accounts, either fixed term of instant access whichever suits you best and invest up to £50k in each institution. This will give you the security of the FSCS scheme. You can get around 3.5% on top cash accounts. Also, consider regular saving accounts to maximise your return and drip feed cash into these regular savers accounts. Even with a relatively large capital sum as this, don't forget to use your ISA allowance each year, building up a tax free lump sum over the years can be lucrative

stephenni1971

For that sort of figure better bond returns are available, there are a few touching on 4%gross worth looking at. Bear in mind if you are considering the bond route it may be worthwhile having some money set aside in a high interest savings account with ready access should you need it.

In the current climate a 1 year fix should give enough time to see how the markets and rates are shaping up and you can then decide how to re-invest, be cautious about fixing your funds for much longer than the year as you may lose out on any potential rate rises.

AverageJoe_4

Stick it all on RED. It'll be a great night out if it comes in. :-)