just come into an unexpected 18k windfall. don't need to access for next 12 months.

littlerock

Just come into an unexpected £18k windfall. Don't need access to it for next 12 months. Have a Barclays Saver account. For the time being should I put it in there?

colsten

If you want to get mediocre interest, the Barclays Saver is a good choice.

If you want to get better interest, read up about Savings. Don't expect much though.

AnotherJoe

You can get 2% or a bit more for a fixed one year term at many places.

littlerock

yes there is a similar offering at Barclays. I am inclined to leave it there as there is a large branch near me, where I bank, and it will be less hassle than starting again at a new bank or similar, while I decide what I want to do with it longer term

AnotherJoe

littlerock wrote: »

yes there is a similar offering at Barclays. I am inclined to leave it there as there is a large branch near me, where I bank, and it will be less hassle than starting again at a new bank or similar, while I decide what I want to do with it longer term

Are you sure? All I can see is 0.7%. As forbthe hassle I opened an Atom 2% 1 year, last week in 5 minutes (to be fair I did already have other Atom accounts). And a Marcus account at 1.5% in 5 minutes.

ColdIron

It might be the 3-Year Flexible Monthly Income Bond. Could be a useful option for some. 1.8% interest but you can also take out up to 3% of the initial deposit each month. Not really an equivalent to Atom etc but useful none the less

https://www.barclays.co.uk/savings/bonds/3-year-flexible-income-bond/

littlerock

yes that is the one 😀

Terry_Towelling

If you are going to need access after 12 months, remember you can only take out a maximum of 3% of the initial deposit each month. With an £18K deposit that is £540 per month. You could start withdrawing your 3% from month 1 but even then you'd only have extracted £6480 after 12 months. Is that going to be enough for whatever you are envisaging in a year's time?

AnotherJoe

littlerock wrote: »

yes that is the one 😀

errrmmm

Don't need access to it for next 12 months

.


3 years is longer than 12 months. Much longer. 2 years longer in fact.

Its less interest than the 2% and a bit widely available elsewhere.

Did i mention its for 3 years not 1?



Seems like the wrong product given your above quote, just to save 5 or ten minutes of form filling.

littlerock

actually there is also a 2 year version which pays less interest but lets you take out more in lump sums. still if you know of any deal where I can get 2% or approaching that with easy access, over 2 years please speak up.

AnotherJoe

Marcus is 1.5% no restrictions.