Best saving options for 50K

EmmaZumba

I've just finished my Santander 2 year bond which was a rather crappy rate and now they put me (without asking my permission) into a 1 year bond of 1.00% gross interest. This offends me, so I need a change.
I'm marching into town to take my money out of Santander and taking it elsewhere. But where? I need your help.
50k - I don't really need to access to it. Where would you put it?

MoneySaverLog

Assuming you've topped up the ISA I'd look at fixing for 1 year max, hoping interest rates go skywards, Cahoot looks the best...

http://www.moneysavingexpert.com/savings/fixed-rate-savings#oneyr

Edit: Ops just realised they are part of Santander, may be not :-) Try United National Bank instead.

Rafter

Emma,

Your best starting point will be the 'Top Savings Accounts' link at the top of this post.

If you haven't use your cash ISA limit (and are a tax payer) that should be your starting point with the balance in bonds if you think interest rates are going to stay on hold or a variable savings account if you think the base rate might rise.

Good luck

R.

buffman

If you do not need access, I would put it into a 1year bond with Cahoot paying 3.6% (Cahoot is part of Santander). If you have not used your ISA allowance, I would look at using this allowance first with the balance put into this bond.

EmmaZumba

Thanks Buffman. Cahoot it is. And no, I haven't used my ISA allowance yet.

john0

have a look at this thread, david pointed to an M+S account that may be of use to you, not sure though as i think he based it on 75K

https://forums.moneysavingexpert.com/discussion/4005547

eltacano

I've tried to open a Cahoot 3.6% 1 year bond, but the relevant web page through which you apply is jibberish (every box is labelled "undefined").

Perhaps it's a wind-up.

Anyone else had this problem?