Investing £32,000

tishme

Rightly so, back to the question.

Depends on whether you want instant access, if so then the best accounts to go for would probably be ICIC bank: http://www.iciciukpromotions.com/lms_ct/UK_LP/index.asp?PAGEID=1&USERTYPE=G_ICB_Typ&gclid=CMbK7PLG8I4CFQnklAodNVx6KQ
Or Ice Save http://www.icesave.co.uk/
Or Sainsburys and HSBC also have slightly lower rate accounts.

I would put £30k into a savings account and £2k into Premium bonds.

I'm by no means an expert but hope this helps

Regards
Ali

isofa

As you can't tie it up for long, fixed rate bonds probably not worth looking at, although there are some offering a fixed 6 month interest rate if you have a look.

There are many good instant access accounts, Icesave is excellent currently at 6.3% and it subscribes to the Banking Code (for the jittery) whereas ICICI doesn't, but the latter is usually pays a small amount higher interest than the others.

Sainburys, Tescos etc, all have good instant accounts too.

As you want a good return, I certainly wouldn't put 2K into PBs you might not get any return at all, there are good for a punt, but not for a guaranteed return.

Good listings for comparison at www.moneysupermarket.com

Aegis

If the maximum you can tie it up for is 6 months, just stick it all into a high interest online savings account. That way you get 6.3-6.4% interest and can withdraw your money as and when you need it.

I wouldn't personally bother with premium bonds, and with such a short time scale you remove the option for pretty much any other investment opportunity unless you want to learn how to make money from short-term share trading (which probably doesn't count as investing to be honest)

Stompa

If you're over 50, try:

http://www.coventrybuildingsociety.co.uk/savings/esave.aspx

tishme

Well the reason I suggested investing £2,000 in premium bonds is because:

• Mine have done well, so happy to recommend.
• A return is of course not guaranteed however the only loss is through interest, inflation
• You could get a great return

The ICESAVE one would be the best instand access one to go for, I have a HSBC one but am going to open ICESAVE

Happy Saving
Ali

tishme

My own rule regarding premium bonds is invest for a year and then work out my return %, if below 3% then I cash in.

Aegis

tishme wrote: »

My own rule regarding premium bonds is invest for a year and then work out my return %, if below 3% then I cash in.

Ali

Why did you decide on that strategy?

polomint_2

tishme wrote: »

Rightly so, back to the question.

Depends on whether you want instant access, if so then the best accounts to go for would probably be ICIC bank: http://www.iciciukpromotions.com/lms_ct/UK_LP/index.asp?PAGEID=1&USERTYPE=G_ICB_Typ&gclid=CMbK7PLG8I4CFQnklAodNVx6KQ
Or Ice Save http://www.icesave.co.uk/
Or Sainsburys and HSBC also have slightly lower rate accounts.

I would put £30k into a savings account and £2k into Premium bonds.

I'm by no means an expert but hope this helps

Regards
Ali

Thanx for that ali, instant access is good but i could probably get by with some sort of notice account as well. Thanx for the input. ill have a look at all your suggestions. I did have a little look at the ICEsave account..is a bank based in iceland risky? Or have i got that wrong...lol.. Thanx once again.

isofa

polomint wrote: »

Thanx for that ali, instant access is good but i could probably get by with some sort of notice account as well. Thanx for the input. ill have a look at all your suggestions. I did have a little look at the ICEsave account..is a bank based in iceland risky? Or have i got that wrong...lol.. Thanx once again.

No it's perfectly safe, Icesave is run by Landsbanki, a large Icelandic bank, who have some offices in the UK.

It's no more risky than banking with Barclays or Lloyds TSB.

Stop getting worried, and find the best home for your money. :cool:

isofa

tishme wrote: »

My own rule regarding premium bonds is invest for a year and then work out my return %, if below 3% then I cash in.

Ali

I clicked thanks rather than quote Strange "strategy" IMO.