Which bank account for a six figure sum?

bellybuttonfluffman

I have a fairly decent amount of dosh (six figures) in a NatWest e-savings account with no short term plans to dip into any of it. I took a look at the A&L site but it's all too confusing for my pea-sized brain. Can anyone save me a few headaches?

Thanks
bbfm

Shinds

bradford & bingley's new e-Saver is a good bet.

6.4%

p.s. - To have a 6 figure sum - Your brain can't be pea-sized!!

bellybuttonfluffman

Well, that was relatively painless (apart from the final page confusion - also mentioned in another thread). B&B welcome pack on its way.

BTW, not knowing the pros and cons, I've elected to receive interest monthly. If anyone thinks otherwise, please chime in.

All I need now is a similar account elsewhere as I've reached B&B's limit. Any thoughts on ICICI?

Thanks to albertross and Shinds for the advice.

purch

In view of the NR fiasco, you might want to split it up into 33k chunks

:rolleyes:

YES........think of all those poor people who lost :eek: all their money in the NR :rotfl: fiasco

anniecave

sainsbury's bank internet saver? - 6.25%
yorkshire building society internet saver - 6.2%
icici hi-save - 6.3%
alliance & leicester direct saver (the one with an interest penalty if you withdraw money) assuming you won't be needing the money for a while - when you do - just withdraw on the first day of the month to minimise your interest penalty

anniecave

Shinds wrote: »

bradford & bingley's new e-Saver is a good bet.

6.4%

p.s. - To have a 6 figure sum - Your brain can't be pea-sized!!

Maybe the OP has just inherited or been given some money or won the lottery ...

Just because you have money it doesn't automatically overnight mean you know the best thing to do with it...

That's what sites like this are for....

Old_Slaphead

Coventry First at 6.35% - with all online payment facilities (ideal for feeding regular savers).

Need to deposit £1000pm but there's nothing to stop you transferring £1000 out & then back in again (tho' not between Cov Accounts)

Leighthal

I've had really good service with ICESAVE @ 6.2

http://www.icesave.co.uk/online-savings.html

Liz_the_Whizz

bellybuttonfluffman

With that sort of money, you can afford to look at investing some in the stock market.

Unless that is how you ended up with that sort of money;)

wombat42_2

Liz_the_Whizz wrote: »

bellybuttonfluffman

With that sort of money, you can afford to look at investing some in the stock market.

Unless that is how you ended up with that sort of money;)

Stock market investment should be a 5 years plus commitment.

ds1980

5 year investment + yes but if you buy £100k worth of stocks and it does 10% the next day then suddenly youve got a very short term investment