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where shall I put some cash
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Vales
Posts: 14 Forumite
I took out some equity from my property to buy a second flat but the purchase fell through
I have now 100k I don't know where to keep it (never had that sort of cash) till I find something else, it may happen shortly or may not happen for a while
What would you do?
I have been banking for donkeys years with Santander(Abbey - Abbey National) I ve the 123 c/a, and I have no idea of what else is available
T I A
I have now 100k I don't know where to keep it (never had that sort of cash) till I find something else, it may happen shortly or may not happen for a while
What would you do?
I have been banking for donkeys years with Santander(Abbey - Abbey National) I ve the 123 c/a, and I have no idea of what else is available
T I A
0
Comments
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Fill the 123 up to the £20K limit (for earning 3% interest) and open a second one for another £20K, ensuring you set up a couple of DDs and a minimum monthly payment for the second one.
Theoretically you can find homes for something like another £50K earning 3-5% in about 10-12 further current accounts but opening such a large number in a short period of time isn't usually viable, so you'll probably be best going with the top-paying instant access savings at http://www.moneysavingexpert.com/savings/savings-accounts-best-interest.
Other options include National Savings (no need to worry about £85K protection limit but below average rate) and Premium Bonds for up to £30K (again below average returns but always the chance of a decent win).0 -
thanks that is a lot of stuff I need to check out
I did not know that I could have a second account in my name at the same bank and still fill up to the max
thanks for now0
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