Newbie needs Investment Advice for up to £30K

booler

Hi everyone.

I am self-employed and almost 62 years of age. In recent years I have built up an excess of about £30K in my business savings account (with the A&L commercial bank). I have allowed this to happen during the recession as I did not know what to do with the money and I thought it would be safer just to leave it in the bank for the short term. :embarasse

I am now concerned that the interest on this account is insignificant and I need to think about getting a return on this. Can anyone suggest what I should do with it?

I don't need quick access to the money and I would be happy to think of mid term investments of perhaps two or three years.

Cautious_Investor_3

Hi

I'm self employed too, I like to keep my money safe and secure but it is hard to get a good interest rate.

There is a best buy table on the Investment Sense (.co.uk) website that shows accounts available for businesses. Scroll down the list of accounts, it is near the bottom.

Hope this helps.

the Cautious Investor

ColinJS

Booler - speak to your bank about term deposits which may give you more interest (as long as you are happy to lose access to capital in the meantime) - or in fact any bank can give you rates for corporate term deposits. Shop around for a good rate.

booler

I'll have a look at these. I have also just emailed the A&L to see what they can offer.