interest rates to fall !! best investment?

ivegotabig1

I have about £35 k in cahoot account paying 5.65 Aer, this is coming to an end in july, but with interest rates almost certainly coming down in the near future,where can i put this & get a gauranteed return, say some fixed rate 1 yr bond or such like. thanks in advance..

mary

See the post on this Savings board - Info for 5.65 Cahoot......
It seems that the 5.65% is holding for now.

strawberrylane

If you are looking at a 12 month timescale I think that your options regarding fixed or variable interest rates on savings accounts are finely balanced. Right now you could fix for 12 months at 5% or a little over that, conversely you could decide to keep chasing the highest variable rate over 12 months, e.g. stay with Cahoot until they confirm that the 5.65% rate on your account has been lowered, then switch to the next best at that time, such as ICICI at 5.40%, then....etc, etc. There are numerous problems with constantly switching, such as loss of interest each time you make a switch as well as the hassle factor. Personally, if you are certain that you won't need to access the cash for 12 months I would opt for a fixed rate as soon as your 5.65% rate at Cahoot has finished. Get the account opening forms for a couple of fixed accounts now and be ready to apply for your preferred one as soon as your Cahoot rate drops. Best fixed rates at present are here: https://www.moneyfacts.co.uk/savings/charts/savings_fixed.htm