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What to do with £50K?
NewMumSavingCash
Posts: 242 Forumite
I have £50k from a house sale that I need to put away. I don't mind being tied in for anything up to 6 months. Anyone have any ideas what the best thing to do with it would be?
Thanks for your help....
Thanks for your help....
0
Comments
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Deposit accounts are the only realistic option. You can't put the capital at risk for such a short a period so that rules out any investment. Some recommend premium bonds, okay if you're a higher rate tax payer, but given that you won't be entered until the October draw (if you applied in the next couple of weeks) it is a poor option.
Halifax just increased their fixed rates and offer 5.27% AER for a 6 month fixed web saver account and 5.25% AER for the 3 month term. Its difficult to suggest easy access accounts right now since some banks have increased rates and others haven't. ICICI's rate would beat the Halifax fixed rate option if they pass on the base rate rise."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0
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