Best Savings Route???

dinod69

Have £100k plus to put into a savings account for up to a year whats the best direction to go.....have looked at ICICI bank seems ok but is there a better route to get a MONTHLY income??
Thanks

mad

Is that 100k to be deposted in an investment / saving for up to a year and then you will have to move it or do whatever?

I assume you are a tax payer? If so you may want to put something in to an ISA or similar, but then this would only be up to a certain allowance

Would need a bit more info? Have you got a wife / husband not utilising their tax allowance

dinod69

mad wrote:

Is that 100k to be deposted in an investment / saving for up to a year and then you will have to move it or do whatever?

I assume you are a tax payer? If so you may want to put something in to an ISA or similar, but then this would only be up to a certain allowance

Would need a bit more info? Have you got a wife / husband not utilising their tax allowance

Its proceeds from house sale but hope to move to France within 6/12months

Basic rate tax payer

Wife basic rate tax payer but only part time

mad

I would take others advice here also but I think you can put some away in an ISA before the end of March as you will not / may not have used your allowance, but it is not going to be much out of the total. The question I would ask others is would that mean technically you could cash it in in the new tax year without paying tax?

The reason I asked about your partner is because if she wasn't working you may have been able to get the gross interest on the money as opposed to net, but that is probably not an option (i.e probably earning above the 4700 ish threshold)

Unless anyone else has any ideas I think you may have already got the best option i.e instant access saver like ICICI or Alliance and Leicester savings at 5.15%, but you may have to open a current account

Sorry I don't think I have helped. Can anyone else?