10K to invest for 1 year
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temba
Posts: 320 Forumite
My parents have 10k and they want to know what they should do with it. So far it has been in a guaranteed reserve. They are prepared to have it tied up for one year, possibly more. Does anyone know the best thing? Another guaranteed reserve? Bonds?
ISA already used up.
Thank you!
ISA already used up.
Thank you!
[SIZE=-4]MF date: Dec [STRIKE]2028[/STRIKE] 2019. Overpayments in 2007=£900, 2008=£1200 2009=23400[/SIZE]
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Comments
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How about an Abbey e-bond? It pays 5.2% gross for a one year term. Details are at http://www.abbey.com/index/savings_home/savings_bonds_income_growth_home/savings_ebond_fb.htm.0
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Go for Martin's current best recommendation - Cahoot. 5.5% for the first year and instant access (so it can be moved if something better comes along as rates rise over the next 12 months).
http://www.cahoot.co.uk/cahoot_products/cahoot_savings/frameset_savings_easy_access.html
[tt]Cahoot it![/tt]30 years, 217 days!0 -
If either of them isn't a taxpayer, make sure it is in that spouse's name, so as to be tax free.
I think there are some 1-2 year bonds around that may be better than 5.5%.I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.
If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.
Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?0 -
Birmingham Midshires. 5.61% year bond I believe.
HTH0
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