Need advice on where to put my inheritance

Tina1810

Hi All,
I have recently received an inheritance from my late father and am not sure what is best to do in regards to savings. I have put £19,000 into my bank ISA but still have £9,000 left. I'll also be getting regular instalments of £200.00 a month from my son who borrowed some money to pay off his car. Can anyone give me some advice on what to do with the left over money and with the money my son will be giving me over the next couple of years? I want to put it somewhere I know it will be safe. 
Thank you! 

Albermarle

To get any sensible advice you will need to supply more info.
Do you have a mortgage or any other significant debts ?
Do you have any other savings or a pension ?
How old are you ? employed ?

whitesmith

If your objective is that it will be safe then any UK bank account or savings account will do as you will be covered up to £85k per institution.

tacpot12

Also, are you receiving any state benefits? 

Tina1810

Hi All,
Thanks for you comments.
I live in social housing so no mortgage, as well as no debts. I am in my 60s and in full time employment while also receiving one of my pensions and have no other savings than what is now in my ISA.
I am not getting any state benefits.

Albermarle

As said if you want it to be 100% safe , then it will have to be in a savings account or premium bonds .
For the savings account you get a better rate if you tie up the money for a couple of years or longer .
PB's pay on average 0.8% for someone with average luck. Here is a saving account comparison site.
https://moneyfacts.co.uk/
You say you have a 'bank ISA' Presume you mean cash ISA with a bank?
Do you know that a basic rate taxpayer can earn up to £1000 pa in interest tax free. So for most people a Cash ISA is redundant .This is important as non ISA savings accounts typically pay a better rate of interest than ISA savings accounts .