24 k to invest ...where?

Spartan_Saver

hello,

my guranteed savings account of 6% is coming to an end in august. i have about 24 k saved up. i haven't found a house yet to buy so which is the best and safest way i can invest the money? all the best savings accounts are paying a meager amount of interest while all the good ones are limited to £2,500.

any advice ?

thanks

apt

If you need instant access several Lloyds Vantage accounts paying 4% on between £5,000 and £7,000.

G_M

If 3 months notice is acceptable then Investec High Five at 3.03% + £50 referral.

Edit - sorry: Minimum £25K !

Spartan_Saver

I will have 25 k at the rate that i save but 3% gross is too little. the lloyds one sounds decent.

hopefully something better will come along in august when my fixed saver expires.

G_M

Spartan_Saver wrote: »

the lloyds one sounds decent..

You'll need 4 separate Lloyds Vantage accounts (£7K max each) - not sure if they'll allow this. You also have to credit each of them with £1000 per month to qualify for 4% (remember this is really a current account). It's do-able by moving the same 1K around, but a hastle.

D1zzy

Appears to be no limit on how many Vantage accs (6 or 7 is common) - and transferring £1000 round the accounts by SO is easy peasy.:D

cashbackproblems

icici fixed for 1yr is above 4%, i will probably look at doing that when my 7% fixed runs out in september.

Spartan_Saver

where did you get a 7% fixed saver from ?

Baldur

Spartan_Saver wrote: »

where did you get a 7% fixed saver from ?

There were lots available at around that level or higher last September/October - I have an ICICI Bank a/c at 7.20% maturing in September, an AA a/c at 7.21% and another ICICI Bank a/c at 7.1% both maturing in October, to name but three.

artha

cashbackproblems wrote: »

icici fixed for 1yr is above 4%, i will probably look at doing that when my 7% fixed runs out in september.

ICICI 1 year is now at 3.75%

Spartan_Saver

shame
these interest rates are lower than whale fertilizer sinking to the bottom of the ocean.
at this rate i will have close to 30k by Xmas and I need a good interest rate

my current savings account matures in august so hopefully something better will be available then.