Advice needed on £92,000

jimmy5

Hi there, can anyone give me advice on what to do with £92,000 that will clear in my normal current account next week. I would like to put it in an account where i get better interest. Its likely i may want to buy somewhere with much of it in 6 months to 1 year. I dont mind spreading a b it as ive heard 85,000 is max you should have in an account. Im interested to hear options where you cant touch for a year, and also easy access. I'd prefer to bank with more well known (possibly eco) places...

xylophone

http://www.moneysavingexpert.com/savings/safe-savings http://www.ecology.co.uk
http://www.moneysupermarket.com/savings/?source=GOO-131766AB&p=0&keywords=best+savings+accountsExact&mckv=sMcp9LBKe_pcrid_13139434845_mtype_e_kword_best%20savings%20accounts

Yorkie1

It's max £85K in an institution, not just an account.

So you'd need to make sure that your accounts are with different institutions.

opinions4u

Look at the links above!

ING Direct paying 3.24% may be a useful home for some of it.

jarralad

In same position and majority of advice seems to be ISA's and savings whether for easy access or fixed term. I bank with Llloyds and they don't seem to feature in better offers. It will be interesting to see what the bank's advisor has to say on Monday? I'm considering Cahoot for 3.6% fixed for a year for 25K along with as above Ing Direct at 3.24 easy access.

scope

opinions4u wrote: »

Look at the links above!

ING Direct paying 3.24% may be a useful home for some of it.

Keep in mind ING is not covered by the UK Financial Services Compensation Scheme (FSCS).

unimaginative_user_name

jarralad wrote: »

In same position and majority of advice seems to be ISA's and savings whether for easy access or fixed term. I bank with Llloyds and they don't seem to feature in better offers. It will be interesting to see what the bank's advisor has to say on Monday? I'm considering Cahoot for 3.6% fixed for a year for 25K along with as above Ing Direct at 3.24 easy access.

Also bear in mind that a bank's advisor will only be able to advise on that bank's products.