Where to put my 50k?

meniehill

Hi just got back from my Lloyds TSB branch depositing a cheque for 46k. Needless to say the teller wasn't going to allow me to make the deposit into my "classic" account and walk out the door. I had to talk to their advisor who tried to get me to open a new account.

I told her I was planning to reseach the "whole of market" for my money but agreed to open an "easy saver" account to keep her happy.

Now I'm looking for the best place to put my savings. I have 2k in my Nationwide "flexi" account which I opened for the free withdrawls abroad, which they've now stopped. 2k in an online egg savings account. I don't have any ISA's but plan to open one for myself and get my partner to open one aswell ( he banks with Santander).

Would I best upgrade my "Classic" account to a "Vantage" account and keep 7k in as this is where my wages are paid in? Where would be the best place for the rest? I plan to move house within the next 6 months so would need easy access.
Any advice much appreciated.

Baldur

meniehill wrote: »

Would I best upgrade my "Classic" account to a "Vantage" account and keep 7k in as this is where my wages are paid in? Where would be the best place for the rest? I plan to move house within the next 6 months so would need easy access.
Any advice much appreciated.

You can have up to 3 Vantage accounts, so, potentially, £21,000 earning 4% AER with instant access.

CityWalk_2

in my pocket

Dave101t

you can deposit what you like into your standard account, surely? still lloyds...
ill tell you where you can shove it....
nah, just kidding, but dont do this:
http://www.bbc.co.uk/news/uk-england-essex-11843543

meniehill

Thanks, I won't be leaving it there for sure

middlepuss

Is this cash you'll need in the next year or so or long term savings?

meniehill

It's cash I plan to use to move home and buy a larger property.It's money from my late Father's estate so probably won't be in my hands too long, I would imagine less than a year.