£30,000 to save

orchid-96

Hi, I just thought I would come on here to ask as I know you are all hot on money/investments etc.

My Dad currently has around 30k that he wants to put away in a non-risk type of way (got stung with an isa that has still not made up the money)..

He has told me he is going to see his Bank Manager tomorrow to ask him what he should do with it (Barclays) but I thought he will probably only be looking at their products.....Can anyone tell me a good savings account that offers a good rate for that sort of figure..

I think he would be happy to put it somewhere for a year without touching it (He has some more money that he is going to spend on the house and a new car - he has just had a pension mature)

Any help would be appreciated, my Dad is currently undergoing tests for some serious stuff so I am trying to look out for him at the moment..

Thanks Guys

whu

would suggest a cash ISA - maximum £3600 for the year - then if he wants to put the rest in a 1 year fixed bond have a look at the best buy tables on moneyfacts - there are a few paying around 7% - ICICI/Kaupthing Edge - hope all goes ok with tests

cundall

Yes have to agree with Whu... good rates and backed as your until the limits...

isofa

Don't not take advice from the Barclays adviser, they will try and sell their own low risk investment products for this, which will be poor value, poor returns (if they are true investments), else they'll just tie it up in one of their low paying savings accounts.

Stick to high rate savings from third party companies as per the above replies.

I must paste this link 10 times a day to the best buy tables at Moneyfacts, as per whu's post it's all you really need to know.

Personally I'd recommend Icesave or Kaupthing Edge, both excellent service and rates.