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Term Deposit
PEARL
Posts: 3 Newbie
I have some money from selling my business I would like to deposit some as i am not retiring age and therefore no pension I want as high an interset reate possible but I also need low risk . Any ideas?
0
Comments
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Are you looking to live off the interest/income?
if so, how long will you be relying upon it for income?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The general opinion around here is that interest rates have peaked for the foreseeable future, so if you can afford to put some of it away for at least two years and if you are 50 or over, have a look at the Saga 2-year bond. This is currently offering 6.6% gross which in a year's time may look particularly attractive.
Failing that, as you don't want to take risks with your money, I would suggest looking at several of the building society bonds. Nationwide are offering 6.7% on a one year bond."The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens0
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