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Post Office Growth Bond

hatter68
hatter68 Posts: 58 Forumite
Part of the Furniture 10 Posts Name Dropper
in Savings & investments
Hi
My father who is in his late seventies wants to put £88000 in a post office growth bond for 1 year. Is there anything else he should consider?
Thanks

Comments

  • Stubod
    Stubod Posts: 2,643 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    ...yes avoiding the Post Office like the plague...notoriously difficult to get you dosh out at the end of the term.....I would not touch them with a barge poll, regardless of the rate...plus their customer service is totally crap...a complete waste of space...(have had experience of this as have others .....lots of threads....
    .."It's everybody's fault but mine...."
  • Vortigern
    Vortigern Posts: 3,308 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    1. Post office has a poor reputation for service (see above)
    2. £88,000 is to much to have in one bank (> FSCS limit)
  • mvarrier
    mvarrier Posts: 104 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Go on a nice cruise...You can't take it with you at the end!
  • hatter68
    hatter68 Posts: 58 Forumite
    Part of the Furniture 10 Posts Name Dropper
    mvarrier wrote: »
    Go on a nice cruise...You can't take it with you at the end!

    That's what I would do but father not in best of health and struggles to get about. Thanks for all the replies.
This discussion has been closed.
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