Approx £20-30k inheritance. How best to save for 1 year?

Tara100

Hello

I plan to put the money towards a house move in 12 months time, and shouldn't need to touch it before then.

Sadly, I'm not very clued up on saving. Can you help please?

Many thanks.

Sam_J12

You want to take very low risks with your money, so leaving it in bank accounts is probably your best bet. Various accounts at 3%, 4% and 5% exist and are described here - http://www.moneysupermarket.com/current-accounts/ . They are all current accounts as these pay more than the best savings accounts.

A simple solution would be to open a Santander123 account which will pay 3% interest on £20,000 with a £5 monthly fee. So your return on £20k would be £540 over the year.

george4064

If you're eligible, consider opening a HTB ISA and stick the rest in high interest current accounts.

http://www.moneysavingexpert.com/savings/help-to-buy-ISA

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

Tara100

Thank you both of you. :-)