Simplify savings.....any ideas?

ween7847

We have approximately £140K in savings, £35K of which is in a fixed rate account at 6.85% until May 2009. We want to maximise interest on the remaining £105K but find having to open new accounts and move our money every few weeks impossible. What advice does anyone have on simplifying savings of this amount without the worry of frequently checking rates and changing accounts? Whilst we're mindful of the £35K compensation limit, it would be so much easier to have it all in one place!

Baldur

ween7847 wrote: »

Whilst we're mindful of the £35K compensation limit, it would be so much easier to have it all in one place!

Northern Rock is about the only place where you'll find a 100% deposit guarantee (at least while the Government is backing it) - don't know what their current rates are like, though (one suspects that they are probably not competitive).

oldfella

if you want to keep in the top tier of rates expect to move your money every 12 months or so

whu

you could open up 3 separate accounts with the £105000 for fixed periods of 12 months each and then evaluate the position at the end of the 12 months