Best bank to put my money

mapex

The more I read the more I get confused...

If I have 100 grand and looking to get some interest with absolutely no risk what's the best place to keep my money.

How much interest could I actually get for 100 grand...

As I said I haven't got a clue about any of it.

Thanks

[Deleted User]

It's just a matter of comparing interest rates for the accounts which offer the term(s) you're looking for.

You might want to have access to all the cash immediately, or you might want to lock some away for a year or five, or you might be happy with 30 or 90 days notice, etc....

masonic

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/
https://www.moneysavingexpert.com/savings/premium-bonds/

Daliah

Also https://moneyfacts.co.uk/savings-accounts/

But what are your plans for the money? Can you invest (as opposed to save) some or all of it? Can you put it into a pension, or in a LISA? 

oz0707

2 separate ones ideally as only 85k protection. I've just opened up a number and the interest is around half a percent. Rubbish. 

Albermarle

As I said I haven't got a clue about any of it.

If you have a Hundred Grand spare then maybe about time to improve your knowledge.

Types of savings | Help with savings products | MoneyHelper

maxsteam

As well as comparing interest rates, it's worth comparing credit ratings.

https://www.advratings.com/uk/credit-ratings

You may get a very slightly higher rate from someone near the bottom of the list. The interest rate will be small whoever you use. A 1% rate will just get you £1k income per year.

If you want absolutely no risk, you should be aware of the FSCS £85k limit. It might be worth splitting the £100k between a couple of banks. NS&I is also worth considering.

With no knowledge of investing, I agree that there's nothing wrong with learning but I would suggest that you stick with your original plan for the majority of your funds.