Best one year Fixed Rate

jimbo10

Hi
I have a lump sum of over £50,000 to invest but I only want to lock it away for twelve months. Anyone any idea who is paying the best rate?

D1zzy

jimbo10 wrote: »

Hi
I have a lump sum of over £50,000 to invest but I only want to lock it away for twelve months. Anyone any idea who is paying the best rate?

Can you do 16 mnths?
Derbyshire BS or Dunfirmline BS 3.75% to end of of April 2011.

(I think these are both part of Nationwide now)
http://www.dunfermline.com/savings/1...rate-bond.aspx

jimbo10

Yes 16 months isn`t a problem . Thanks for your advice. I will look into it .

D1zzy

You could also look at putting 21K into 3 x LLoyds vantage current accounts paying 4% on balances between 5K and 10K - then maybe you could look at longer fix options with the rest. Also keep you below the 50K (100K joint) FSCS limit

soulsaver

D1zzy wrote: »

You could also look at putting 21K into 3 x LLoyds vantage current accounts paying 4% on balances between 5K and 10K - then maybe you could look at longer fix options with the rest. Also keep you below the 50K (100K joint) FSCS limit

£5k- £7k. I know you know 'cos of the maths... but for clarity £7k is the max attracting 4%..n'est pas?

D1zzy

soulsaver wrote: »

£5k- £7k. I know you know 'cos of the maths... but for clarity £7k is the max attracting 4%..n'est pas?

sorry yes balances between 5K & 7K (anything over 7K earns zilch)
{blame the 3rd Glass}

1socrates1

D1zzy, what is your gut feeling regarding fixed rates next year?

D1zzy

1socrates1 wrote: »

D1zzy, what is your gut feeling regarding fixed rates next year?

Who knows? - but some random thoughts
Base rate is expected to stay low for a while
Inflation expected to rise (by how much?) - consider index linked savings
BS are supposed to be struggling so presumably will be looking to drag in some money
NS&I have said they may do further "market leading rates"
1 year fixes have been in short supply for most of this year
There was a rush of fixes in the last few months presumably aimed at collecting the glut of maturing bonds

---

I can't see anything much changing (but its all guesswork) in the next few months in terms of rates , but I would expect a few new fixes to appear in the new year.

I also think as we get further into/out of this recession, long term fixes become more problematic (3 years at the start was probably a good bet, 3 years if/when we are heading out may not be)

Personally I've opted not to lock up my maturing poppy bond, again but to put it into a decentish instant access and wait and see what happens in the new year, though if its still around I may be tempted by the Dunfirmline/Derby (16 months & going down) 3.75% offering.

(I did notice that the 15K I put into3yr index linked certs on 28th November is now worth £15,112.50 - not bad for 3 weeks )

jimbo10

Hi Dizzy
Iam new to all this.Why can I have three Lloyds Vantage Accouts? Or can I have more than three?

1socrates1

Thanks D1zzy for your thoughts on this.

D1zzy

jimbo10 wrote: »

Hi Dizzy
Iam new to all this.Why can I have three Lloyds Vantage Accouts? Or can I have more than three?

Only 3 now but when it first came out it was unlimited - so some of us were luck enough to get more