35k to invest for 5-10 yrs

Whitegloves

I have recentley been gifted a sum of 35k which I want to put away to earn as much interest as possible and dont mind locking the money away in a non access type account for a 5 -10 year term. Just wondering what your thoughts are, at the moment neither the wife nor I have an ISA so that is an option but is it the best option?

yorkiebar

Locking that sum away over such a period without any access whatsoever would not be wise IMO given the current low interest rates available.

calypso_rhapsody

You used the word 'invest' in your thread title but seem to be focussed on savings?

Are you prepared to take some risk with this money? If so, given the timescale you are looking at an S&S ISA invested in equity funds might be an option.

If not, look at the NS&I index linked 5 year bonds - they offer a return just ahead of RPI (and can be withdrawn after a year with no penalty in the event that savings rates should start to exceed RPI one day!) There is a limit of £15k per issue per person (so £30k) though you could put the remaining £5k in too if you put it in trust - there was a thread on here (sorry i haven't got the link but i daresay a search would find it) about that. It works - my husband and i have bought second certs in trust for each other.