Best (and safest) home for £20k for one year?

tonome

As the title suggests, I've £20,000 to put away for a year.

Already got an ISA.

Any suggestions on a good safe bet?

Someone mentioned a bond?

Thanks - Tonome

Baldur

tonome wrote: »

Someone mentioned a bond?

True bonds are investment instruments, not short term savings, which is what you appear to be looking for.

Some fixed-rate savings accounts are called 'bonds', probably as a marketing ploy - see 'best buy' examples here

tonome

Thank you Baldur.
Tonome

isofa

The Kaupthing Edge or Icesave 1 year fixed rate "bonds" will both net you just over 7% interest, and would be my recommendations.

tonome

Kaupthing Edge and Icesave sound good.

As they are foreign banks, how safe would my money be compared to UK institutions?

Tonome

Baldur

tonome wrote: »

Kaupthing Edge and Icesave sound good.

As they are foreign banks, how safe would my money be compared to UK institutions?

Kaupthing Edge is fully covered by the FinancialServices Compensation Scheme for deposits of up £35,000 in exactly the same way as UK institutions.

Icesave is covered by the Icelandic scheme for deposits up to €20,000 and by the FSCS for the balance, up to a total of £35,000.

tonome

Thanks again, Baldur.
Tonome