Am new and need advice please!

CHEEKYRACH

Hi

I thought I would post on this site as I have recently inherited a large sum of money (£80,000) and wondered if anyone has any advice on where I will get the best interest on it???
At the moment I have only got it in a HSBC savers account.
Any suggestions would be appreciated!

grumbler

CHEEKYRACH wrote:

...where I will get the best interest on it???

For best interest on savings see Instant Access link in the blue box above. And don't forget to use your £3K yearly allowance on tax-free ISA.

equitydealer

Use your ISA allowance for this year - if you have not already done so. My favourite at the moment is Halifax's 5% ISA Direct. Not the top rate, but then it does not include a temporary bonus which the highest payers have, e.g. A&L 5.2%

Set aside another £3k for the new tax year starting in April.

Depending on your savings profile I would put a big slice in a 1/2/3 year bond (5.05%STROUD & SWINDON BS paid monthly) and the remainder in a good savings account such as B&B @ 4.85%. Again we have A&L and ICICI at 5.15% but I don't like the hassle of switching when the bonus rate ends and poor customer service of ICICI.

Good luck!

Also have a play around here http://www.moneysupermarket.com/savings/