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Fixed rate
thealchemistxyz
Posts: 1 Newbie
I am in the fortunate position that I have approx £500,000 to put into savings. I already have money invested but in the current climate I do not wish to add to this. I am thinking of dividing this money over 6 banks to at least guarantee 2%. Any advice of which banks to use thanks in advance and is this a good idea
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Comments
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Without knowing the details of your personal finances, age, family situation , mortgage etc it is impossible to tell whether this is a good idea or not. Normally due to inflation ( not just at the moment but long term ) it is not advisable to keep excessive amounts in cash. However if you wish to do, there are numerous savings providers available. Best to avoid high st /big banks as their rates are generally poor.
If you want fixed rates/terms, then the consensus is that these will improve over the coming weeks/months.
Compare The Best UK Savings Accounts | moneyfacts.co.uk
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