We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Where to put £10k
katie4
Posts: 459 Forumite
Would like to lock away £10k of an inheritance a) to stop me/family blowing it and b) to get the best interest
any suggestions greatly welcome thank you
any suggestions greatly welcome thank you
0
Comments
-
Lock away for how long?
There are fixed rate bonds are various lengths if you look on the main website, but you won’t be able to get your hands on it in the interim if needed.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.2 -
A Branch-based ISA at a Buidling Society might also work - if you have to go into the branch to withdraw cash, this usually acts a deterent to random withdrawals.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.1
-
If you really want to lock it away, most fixed rate accounts do not allow early access. Have a look here, I've shown 5 year fixes but others are listed too:
https://moneyfactscompare.co.uk/savings-accounts/5-year-fixed-rate-bonds/?quick-links-first=false&product-favorites-first=false
There are also notice accounts, which stop you accessing money instantly, as you have to give notice to do so. Again they are listed on moneyfacts.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards