Best savings account with best return

muddypaws2807

Hi

I have managed after a lot of hard work save £7k after paying all debts off and being debt free, now just as I have done so my flippin savings account is literally not paying a cent in interest. Where can I put this cash to make some money on it please?

muddypaws2807

Hi

I prepared to tie up say £5k the rest would be for emergency as I do live on my own

I am desperately trying to save either for

a) A Mortgage deposit say £25k to £30k

or

b) Continue ot keep saving to my retirement (if houses become too expensive & I cant get a mortgage)

By the way I am 45 this year and worried my pension for what its worth is useless and I am renting at the moment so need something for my latter years

I pay tax on my salary

cepheus

For the 5k, assuming you don't wish to take any risk, NS&I 3 yr bond looks attractive at the moment at 1 percent above inflation and no tax. Bear in mind you are really losing money if you have savings interest below inflation after tax which is just about everything else!