where to put savings

smudger1946

Hi all, i just got the last years interest on my savings in Lloyds tsb and it was rubbish.
ANy advice where to put £60,000 FOR A GOOD RETURN, I NEED ACCESS TO IT, SO CANNOT PUT IT IN LONG TERM SAVINGS?
Smudger

G_M

What kind of access do you need and what do you call LONG TERM SAVINGS?

Try Investec's High Five account, but keep within the £50K limit to be within the guarantee scheme so your cash is protected.

It pays 3.17% at present, but always pays the average of the five highest savings rates in the market, so you never have to shop around again for the best rates.

Minimum deposit is £25K, and 3 months notice is required. There's also a £50 opening bonus available.

Further thread here, or PM me for any other info.

agsnu

You're not going to get a good return on an instant access savings account in this environment.

smudger1946

Thanks all.
Smudger

nilrem_2

Do you need access to all of the cash at any time or just be able to 'draw' on it?

If you don't need access to the whole amount quickly you could consider putting some in a 12 month fixed rate and and a smaller amount in an easy access account, for example ATM Chelsea are offering 3.74% (gross) (2.99% net) with monthly interest.

If you placed £45,000 in this you would generate around £112 per month (after tax ) and you would have £15,000 available for instant access.

Sorry if the above is no use to you but it is just a thought.

a7man

Depending on if you need access to all of it will change your options, might be worth putting some in a high interest account, some in ISAs.