Looking for the best deal - savings

camperdown9

Hi

Whats the best I can hope for on savings of £100k?

So far I haven't been to get advise from any of the banks but looking online it seams that fix bonds seam to pay the most on that sort of amount. I am happy for the money to be locked away for one year, but I am not keen to sign up to a bond of a longer term.

So far this is what I have found

HSBC 1 year bond 1.3% aer gross
Natwest 1 year bond 1.25
Barclays 1 year bond 1.4
First Direct 1 year bond 1.4

Is anyone going to be better than this?

Thanks in advance

Alex

digannio

Just click on the Top Savings Accounts link at the top of the page and you'll see a whole raft of accounts that beat those rates.

opinions4u

kingrulzuk wrote: »

i have put my money FD saving in one of the abroad bank. i know it sounds duff.
but i get just under 10% AER a year and i dont have to pay any tax on it.
also it gives me an excuse to go abroad (Holiday) every year to check my savings.

Which country?

What's their rate of inflation?

What exchange rate movements have the last year seen?

bowlhead99

kingrulzuk wrote: »

i have put my money FD saving in one of the abroad bank. i know it sounds duff.
but i get just under 10% AER a year and i dont have to pay any tax on it.

You mean, you do have to pay tax on it but you choose not to, illegally, and hope HMRC don't find out?

My savings would grow faster if I didn't pay tax on them ; come to think of it, I'd be better off not paying tax on any of my income from salary, investments etc. Actually why stop there, I could afford a lot more things if I just nicked them rather than saving for them.

2010

http://www.coventrybuildingsociety.co.uk/savings-and-investments/savings-account/savings-account.aspx?WT.ac=onlinesaver5flash


Easy access 1.6% four withdrawals a year allowed.

bowlhead99

camperdown9 wrote: »

HSBC 1 year bond 1.3% aer gross
Natwest 1 year bond 1.25
Barclays 1 year bond 1.4
First Direct 1 year bond 1.4

2010 wrote: »

http://www.coventrybuildingsociety.co.uk/savings-and-investments/savings-account/savings-account.aspx?WT.ac=onlinesaver5flash

Easy access 1.6% four withdrawals a year allowed.

Aldermore's 1 year fix is ahead of all those, at 1.75% on £1k-£1m.

Tesco is even better at 1.9 but doesn't beat Aldermore if you're fixing for a lot longer say 5 years (probably not relevant to OP)

Given the compensation scheme is limited to £85k per person, you might look to use one or more of these in combination with the Coventry (or the top bank current accounts) to give you instant access on a bit of it as well as full protection for your £100k+.

MarkFromCornwall

camperdown9 wrote: »

Hi

Whats the best I can hope for on savings of £100k?

Alex

You won't get a good rate on such a big sum. If you are prepared to split it up you can do much better. For example, if you put £20k in a Santander 123 current account they will pay you 3% interest, with a £2 monthly fee and subject to you meeting various conditions.

Ifts

camperdown9 wrote: »

HSBC 1 year bond 1.3% aer gross
Natwest 1 year bond 1.25
Barclays 1 year bond 1.4
First Direct 1 year bond 1.4

Is anyone going to be better than this?

You can get better than these High St rates - Best buy table for 1 year savings bonds:

http://moneyfacts.co.uk/savings/fixed-rate-bonds/

Edit: There was this offering last week (longer than a year but better rate than a lot of 2 year fixes), a 20 month fix @ 2.35% - http://forums.moneysavingexpert.com/showpost.php?p=64100535&postcount=11 but it got withdrawn Monday, 23 December 2013.

camperdown9

Hi

Sorry me again.

I went to see Barclays and asked them what I should do with £100k they said put £5760 into an isa and then use the rest for a bond. The guy was totally uninterested.

I went to HSBC and they were nicer but pretty much said the same. Only they offered to make my account a premium account and that comes with a few free things. Plus they offered to set up an HSBC Premier account for France and that would kind of be useful as I bank with Barclays France and they are useless!

Natwest said "why do you want to save using a bond and get less interest that the inflation rate?". They suggested that if I changed my account to a natwest black account they would make an appointment for me to see an advisor who would look at investing the money. I said I didn't want any risk and they said for a low risk product I could expect to make at least inflation. They seemed so sure of themselves. They said that if I paid the funds into a Natwest Savings account they would upgrade my current account to Natwest Private bank, make an appointment for me to see a wealth manager (or something). If after seeing the wealth manager I didn't want to invest they would arrange for the funds to be transferred the same day to any UK bank free of charge and refund any fees for the black account.

So I guess I have nothing to loose. Thing is I am a bit nervous about all this. Has anyone any experience in investing in this way with Natwest?

Thanks again

Alex

jimjames

Any reason why you want to keep so much as cash? What risks are you worried about and when do you need the money?

I wouldn't bother with any bank adviser but if you are considering investments then speak to an IFA (that's an Independent Financial Adviser) not one from a bank that can only sell their own products not the ones that are best for you