Best account to pay in 25K cheque

Tra77

Looking for some advice.
I have a cheque of 25K that I'm wanting to pay into an account which will give me the best possible interest rate. A&L have the 12% savings account but upon looking into this I see that you can only pay in a max. of £250/mth over 12 mth period giving me £195 gross.
Any advice at all appreciated!

Aegis

Until recently ICICI, IceSave and Sainsburys all had similar levels of interest towards the top of the scale (around the 6.4% level), but with the rate cut these may have reduced without me bothering to check on them!

You could couple that with the high interest regular saver from A+L if you're saving over a year and get a slightly higher rate.

However, before doing that you should sort yourself out with a cash ISA and transfer in the maximum allowance for the year. The tax-free savings offered by a cash ISA make them the best medium- to long-term savings vehicle.

If this money is for long term growth, you might be better off talking to an independent financial adviser to invest the money in funds likely to grow more than cash savings in the long run.

PasturesNew

You could check out this brilliant site I know about that tells you where to put it. Try this:

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#topaccounts