where to put my cash for a year?

ojala

I am about to receive £19000 inheritance money. I hope to buy a flat next year (12 months time) and use this for a deposit. I'd like to put it somewhere for the year where I can get good returns but not risk any capital. I have an ISA already for this year, it isn't full but I'm not allowed to put any more money in. Are there better options out there than just putting it in a savings account? Or is 12 months too short a time for an investment product? Thanks!

puk999

Current accounts are probably your best bet. TSB Classic Plus, Nationwide FlexDirect, Club Lloyds, etc. A search for these should get you started. EDIT: Also see here.

What rate tax do you pay?

littlemiss_pretty

Puk999 with current accounts you can access the money whenever you want. Are there any accounts in the market where you can put your money away for a certain period of time lets say 2 years?

Thanks

YorkshireBoy

littlemiss_pretty wrote: »

Puk999 with current accounts you can access the money whenever you want. Are there any accounts in the market where you can put your money away for a certain period of time lets say 2 years?

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#fixed


But you'll be getting less than half what you'd get in 5% current accounts, ie 2.33% AER min £1K.


Why not find some willpower from somewhere?

ojala

Thanks Pukk. I'm a basic rate tax payer. I'll look into these.