£155k to Invest

Gman1108

Hi,

I have £155,000 that I need to put into an account of some sort to gain some interest.

Thing is, interest rates are very low at the moment. I'm looking for a low risk plan to try to get the most return for my capital.

Nationwide offer 5% for the first £2,500, but what about the rest of the £155k?

If there are any accounts you might know of, please let me know as I'm struggling to get a solution, here.

Hope to hear your advice and thoughts soon.

George

liamcov

Lloyds Vantage x 3 (£15k) and BoS Vantage x 3 (£15k).

Santander 123 x 2 (£40k) with fees of £4/month.

All of them are 3% gross. Or people have had luck opening additional NW FlexDirect accounts.

Gman1108

Hello,

Appreciate your reply.

Thing is the Lloyds account needs £1000 per month funding and only pays up the first £5000 at 3%, same for the BoS offering.

Natwest is good, at 5% but only pays the first £2,500 and still need £1k monthly funding.

The better one is Santander 123 requiring £500 pm and pays 3% on first £20k.

eskbanker

Gman1108 wrote: »

Thing is the Lloyds account needs £1000 per month funding and only pays up the first £5000 at 3%, same for the BoS offering.

The better one is Santander 123 requiring £500 pm and pays 3% on first £20k.

Hence the recommendation to open multiple accounts with each!

The funding requirements are easily met by shunting money around in rotation (Lloyds can be within their network, Santander has to come from outside), it's a bit of jumping through hoops but the rates are far better than anything branded as a savings account just now....

jamesd

How low risk? Would you accept Euro currency risk and peer to peer lending to get say 15% after bad debt, for part of it? When do you need the money, if it's within three years what I'm thinking of would not be appropriate. Do you object to having to file a tax return every year while the money is invested, until the last repayment is made, perhaps ten years after starting?

Gman1108

Yes, I do feel I'll need to move funds around to get some small interest from my money.

Looks like I'll be applying for new accounts to accommodate all this.

Thanks.

vns

liamcov wrote: »

Lloyds Vantage x 3 (£15k) and BoS Vantage x 3 (£15k).

Santander 123 x 2 (£40k) with fees of £4/month.

All of them are 3% gross. Or people have had luck opening additional NW FlexDirect accounts.

Maximum 4 Nationwide FlexDirect Accounts per person.

Grorge if you're married / partner that you trust, you should both open the accounts in individual names.