Best way to invest my lump sum of cash.

Storkeyj

Hi all,

I have a lump sum of cash and need to know what is best to do with this? I'm unsure where will be best to put this money to get the best interest? The cash can be tied up for around a year where I won't need to touch it. But don't want to invest in property etc. Just looking for somewhere to keep my cash and get the best return! Open to different options.

Thanks

Dazed_and_confused

Not sure what you want. To invest it or to save it and receive the best interest rate.

Investing for a year is not something many people would do going off the threads on here.

Storkeyj

Thanks for the reply!

I'm looking for the best option to store some money that I won't need to use yet but earn some money off of it rather than the money sitting in an account not earning anything

Just looking for where I could potentially get the best returns

cloud_dog

1 Year Fixed Rate Bond (savings account)

There are a number of offers ranging from 2.17% down

Have a look at Moneysupermarket.

TBC15

Anyone put off by the Sharia aspect (nothing guaranteed) aspect of the top liners?

eskbanker

Storkeyj wrote: »

I have a lump sum of cash and need to know what is best to do with this? I'm unsure where will be best to put this money to get the best interest? The cash can be tied up for around a year where I won't need to touch it. But don't want to invest in property etc. Just looking for somewhere to keep my cash and get the best return! Open to different options.

Storkeyj wrote: »

I'm looking for the best option to store some money that I won't need to use yet but earn some money off of it rather than the money sitting in an account not earning anything

Just looking for where I could potentially get the best returns

It would help people help you if you give some sort of indication of what size your lump sum is, as there would probably be different answers depending on the number of zeroes involved! Some post on here about £500K inheritances whereas others may consider £500 to be a lump sum....

TBC15

eskbanker wrote: »

It would help people help you if you give some sort of indication of what size your lump sum is, as there would probably be different answers depending on the number of zeroes involved! Some post on here about £500K inheritances whereas others may consider £500 to be a lump sum....

Upwards of £1000 is there significant variation?

eskbanker

TBC15 wrote: »

Upwards of £1000 is there significant variation?

I would say so, yes - for a fair way above that the best options would typically include decent current accounts and/or regular savers, but eventually that gets messy and brings more traditional savings products into play. I was also thinking of £85K as being another significant threshold....

TBC15

eskbanker wrote: »

I would say so, yes - for a fair way above that the best options would typically include decent current accounts and/or regular savers, but eventually that gets messy and brings more traditional savings products into play. I was also thinking of £85K as being another significant threshold....

Please tell me more, as it so happens

Prism

TBC15 wrote: »

Anyone put off by the Sharia aspect (nothing guaranteed) aspect of the top liners?

Yes but only because I don't really understand it. It seems to be purely a mechanical way of say 'here is your interest thats not interest'. I currently favour Aldermore, though i got in before the latest rate increases.

Kernel_Sanders

Prism wrote: »

It seems to be purely a mechanical way of say 'here is your interest thats not interest'.

Indeed. They even reduce the 'non interest' rate by 0.02% if you have it paid monthly.