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£14k to save whats best?
Doglover88
Posts: 431 Forumite
got 14,000 left from the sale of my house and want to save it, but with immediate access as it'll be needed for improvements. Wheres best to save it and what rate can i expect? and will it pay monthly interest or yearly? will probably of spent haf of it within a year
cheers
glen
cheers
glen
0
Comments
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Check out comparison site https://www.moneyfacts.co.uk.glenbat wrote:Wheres best to save it and what rate can i expect? and will it pay monthly interest or yearly?
However, bear in mind that many of the providers are reducing interest rates at the moment (in anticipation of a BOE rate cut), so don't put it somewhere that hasn't yet reduced theirs! Check this board for updates, for example ING has just announced a 0.25% cut.
Regarding monthly or annual interest, it's your decision. Do you need an income from the cash. If so, go for monthly. Otherwise, it doesn't really matter as long as the AER quoted is the same.0
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