Where to put £10k

muffinek

Ive got £10k on Lloyds Saver account on whooping 0.01%.

I cant afford to lose so any shares etc are no-go. However my concern is I am kind of losing money anyways as 0.01% is far lower than inflation. 

Whats the best way to manage it?

Dazed_and_C0nfused

You should be able to get 100-120 times as much interest just by taking a quick at some best buy tables.

Try MSE or Savings Champion website for a start.

Thrugelmir

Use this site.........
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

IrishSean

Even premium bonds look better with an 'average' return 140 times higher than that at 1.4%

I know, no guarantees with those, i'm just a regular saver who likes the flutter of them and am happy to risk a lower return for not having to 'rate chase' year round

(Always the slim possibility of a big return too😂)

wmb194

Given you're with Lloyds already, to start with you could open or upgrade to a Club Lloyds current account which will pay 1.2% overall on 5k. Then open its two instant access regular savers at 2.5%, £400pm, and 2%, £250pm.

Milocas1942

Can anyone tell me how best to invest £10K? Is Income Bonds good? thanks
Milocas42

KBZL

Santander 123 is still paying 1.5% on up to £20K, TSB 1.5% on £1500 and Nationwide 2% on £1500 for one year.
Even though I don't like them, Premium bonds are paying around 1.25% and you stand a chance of making that with £10K.

ColdIron

KBZL said:

Santander 123 is still paying 1.5% on up to £20K

No, it pays 1.00% with a £60 pa fee. From 3rd August it drops to 0.60%

KBZL

ColdIron said:

KBZL said:

Santander 123 is still paying 1.5% on up to £20K

No, it pays 1.00% with a £60 pa fee. From 3rd August it drops to 0.60%

You can normally cover the £5 per month fee with the 1,2,3 payments for comms, energy etc. It's a pity, it used to be a great account, my spreadsheet needs updating.

Socajam

I have 30K in Premium Bonds and have won 75 pounds every month from March - started to buy my bonds late last year
I have 18K in Natwest and earned 0.04 interest last month

penners324

Open an Income Bond @1.15% or an Instant Saver @1% with NS&I...