£100k where can I save it?

localboy

Hi. I have £100k to save, I dont want to risk investing it, I just want it to be safe somewhere,a little interest accrued would be nice.? I wont need to touch it for maybe 5/10 years, I dont want to have to pay tax (or as little as possible), I work full-time,have no debts, I'm mortgage free and already have some put aside for rainy days etc.

So which options do I have? Which would be best do you think?

lisyloo

Well I think you should invest it.
Most accounts pay less than inflation, so your biggest risk to not investing is that your money will go down in real terms.

There are risks to not taking enough risk if you see what I mean.

darkblue_2

http://www.moneysavingexpert.com/savings/ISA-guide-savings-without-tax

You can save some money in an ISA without paying tax, but only £5100 in cash and £5100 shares. You can put this in annually.

The AA are offering 4.55% interest if you lock in for 3 years.
http://www.theaa.com/savings/index.html

Make sure you have a read at this:
http://www.moneysavingexpert.com/savings/safe-savings

Linton

darkblue wrote: »

http://www.moneysavingexpert.com/savings/ISA-guide-savings-without-tax

You can save some money in an ISA without paying tax, but only £5100 in cash and £5100 shares. You can put this in annually.

The AA are offering 4.55% interest if you lock in for 3 years.
http://www.theaa.com/savings/index.html

Make sure you have a read at this:
http://www.moneysavingexpert.com/savings/safe-savings

Look again - 4.55% is for 5 years (unfortunately). 3 years is 4.1%

Primrose

You say you don't want to invest but over a longer period, say five years, you run the risk of your savings losing value because of inflation.
If you haven't used your ISA allowance yet, I'd suggest using the full allowance every year, which means that at least some of your savings will be in cash and tax free. Another proportion will be in equities and tax free. Possibly look for a selection of 1,2, 3, 4 & 5 year bonds so that every year another tranche of cash matures and becomes available for you to invest in your ISA allowance. Longer term hopefully NS&I will start reissuing tax free indexed linked savings certificate again and when that happens some of your money could be invested in them.

nzseries1

localboy wrote: »

I dont want to have to pay tax

Can you name for me anyone that does?