Where are you transferring your NS&I savings?

simonp

I have the proceeds from the sale of my house a few months ago earning 1.16% with NS&I until next week of course. 
Looks like my next best option is to open accounts with West Brom and Saga and put £85k in each.
What's everyone else doing? (Looking for 'safe' savings rather than investments and prefer easy access)

colsten

Besides your risk tolerance, what you do with the money entirely depends on your plans for it.

csgohan4

Premium bonds, under the bed, depends on how much you have

Stubod

I would max out PB's if you don't have any, then I have opened a Marcus 12 month saver and a Marcus instant access saver for the rest.

JGB1955

I've got £85K in Marcus (split between a fixed rate bond and an instant access account (still paying 0.7%), £50K in Premium Bonds, quite a bit in Principality fixed rate bond and instant access, then some in Charter Bank and Paragon Bank FRB.  As you can see - I'm risk averse!  Too late (for me) for S&S ISAs.

ratechaser

My children's money has legged it to The Coventry BS...

Audaxer

JGB1955 said:

I've got £85K in Marcus (split between a fixed rate bond and an instant access account (still paying 0.7%), £50K in Premium Bonds, quite a bit in Principality fixed rate bond and instant access, then some in Charter Bank and Paragon Bank FRB.  As you can see - I'm risk averse!  Too late (for me) for S&S ISAs.

Why would it be too late for your to put some of it in an S&S ISA?  Even if you are retired, it is worth considering investing some of it to at least try to keep up with inflation, unless you have plans to spend most of the cash in the next 5 years or so.

clive0510

like you I have asked for advice on where best to put a lump sum of money. the answers I got were mostly 'you need a plan' or 'it depends on whether you want long or short term'. so what I'm going to do is draw all of my PB out and invest it into a high income fund isa I've had for several years. its allways performed well so I shall leave it there for 5 years and after that who knows.

MoneyMan01

I’m in a similar situation. Got £70,000 in NS&I Income Bonds right now. 

I’ll be putting £50,000 into Premium Bonds but don’t know what to do with the remaining £20,000.

It’s going to be either an easy access savings account, but looking at them, the highest is 0.7%.. So I don’t know what to do. 

Issue I’ve got is I’ve built up an £80k tax wrapper in a cash ISA so I’ll need to transfer most of this money back in March to keep that (took out around £63k in July) so can’t lock it away. 

Like yourself, not sure what my other options are.

simonp

Thanks everyone. I already have £50k in premium bonds so nothing else I can do there.
Looks like it's West Brom and Saga then!

JGB1955

Audaxer said:

JGB1955 said:

I've got £85K in Marcus (split between a fixed rate bond and an instant access account (still paying 0.7%), £50K in Premium Bonds, quite a bit in Principality fixed rate bond and instant access, then some in Charter Bank and Paragon Bank FRB.  As you can see - I'm risk averse!  Too late (for me) for S&S ISAs.

Why would it be too late for your to put some of it in an S&S ISA?  Even if you are retired, it is worth considering investing some of it to at least try to keep up with inflation, unless you have plans to spend most of the cash in the next 5 years or so.

I am retired and have no wish to live more than another 15 years. The only person that will benefit from me earning lots of interest is HMRC... currently my aim is that my estate will have no IHT to pay.  If we end up spending the full £1M, so be it.