Best high interest savings account or investment for 82 year old

codetown

I am not familiar with the Coventry BS. Of course consider the easiness of access to money and check locally what the situation is. Nationwide has branches almost everywhere and the account I suggested is really very easy to keep for elderly people.

I think the easiness and accessibility is a very important option than pure interest in this case. But of course Janterry will evaluate all the options before deciding.

janterry

Thanks all, for your views and comments. Problem with Coventry BS is you can only put 2k max into the account at a time - he wants to put all his money into an account in one go. Does anyone have an opinion on Northern Rock Silver Savings account?

flossy_splodge

Surely the difference between the interest paid on eg ICICI at 5.15% but TAXED and an ISA at say 4.5% but tax free makes the ISA the better bet. (Even if he only just gets into paying tax). So if you select an easy access ISA perhaps with a BS local to where he lives then you get the best of both worlds? For anyone that doesn't know it, the Coventry is one of my local BS's and is first rate. Really do believe in customer service so should you get any problems they will help. Good luck.:T

missile

Chadsman wrote:

It may be worth him considering giving away some to avoid Inheritance Tax.

and I can send him my sort code and account number

flossy_splodge

Sure, after me you can be first!:rotfl: