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  • FIRST POST
    • Kiah
    • By Kiah 5th Jul 18, 10:23 PM
    • 2Posts
    • 0Thanks
    Kiah
    Where to put 40K for 18mth - 2yrs?
    • #1
    • 5th Jul 18, 10:23 PM
    Where to put 40K for 18mth - 2yrs? 5th Jul 18 at 10:23 PM
    Hi,

    I will be coming into a modest inheritance within the next few months or so.

    I need to put 40K of it aside, but only for 18 months - 2 years.

    I have a TSB classic plus account already up to 1.5K, and a Tesco account already up to 3K., and my FlexDirect account is over 12 months old.

    So, other than those, any suggestions on where to put it?

    (Anything more imaginative than two Santander 123 accounts?)
    Last edited by Kiah; 05-07-2018 at 11:16 PM.
Page 1
    • xylophone
    • By xylophone 5th Jul 18, 11:58 PM
    • 27,267 Posts
    • 16,313 Thanks
    xylophone
    • #2
    • 5th Jul 18, 11:58 PM
    • #2
    • 5th Jul 18, 11:58 PM
    http://www.thisismoney.co.uk/money/article-1621507/Best-savings-rates-Fixed-rate-accounts.html

    If you have the Direct Debits you could open another Tesco current account.
    • Kiah
    • By Kiah 6th Jul 18, 11:59 AM
    • 2 Posts
    • 0 Thanks
    Kiah
    • #3
    • 6th Jul 18, 11:59 AM
    • #3
    • 6th Jul 18, 11:59 AM
    Thanks, I'll look into doing that. Is the DD requirement new? I earn interest every month on my Tesco current account at the moment, yet i have no DDs set up.
    • ColdIron
    • By ColdIron 6th Jul 18, 12:07 PM
    • 4,812 Posts
    • 6,326 Thanks
    ColdIron
    • #4
    • 6th Jul 18, 12:07 PM
    • #4
    • 6th Jul 18, 12:07 PM
    Yes, it's a new requirement for new accounts, you'll need 3 DDs and 750 switched in and out per month
    • 18cc
    • By 18cc 6th Jul 18, 6:57 PM
    • 850 Posts
    • 572 Thanks
    18cc
    • #5
    • 6th Jul 18, 6:57 PM
    • #5
    • 6th Jul 18, 6:57 PM
    You could consider an atom bank 2 year bond although I would wait until after August as there is supposed to be an interest rate rise then
    • ValiantSon
    • By ValiantSon 6th Jul 18, 7:43 PM
    • 2,536 Posts
    • 2,518 Thanks
    ValiantSon
    • #6
    • 6th Jul 18, 7:43 PM
    • #6
    • 6th Jul 18, 7:43 PM
    You could consider an atom bank 2 year bond although I would wait until after August as there is supposed to be an interest rate rise then
    Originally posted by 18cc
    There might be a rate rise, and there might not be. Speculation about rate rises is like speculation about stock market crashes. Furthermore, a BOE base rate rise does not necessarily translate to a raft of retail savings rate rises.
    • Westie983
    • By Westie983 7th Jul 18, 7:46 PM
    • 4,608 Posts
    • 15,143 Thanks
    Westie983
    • #7
    • 7th Jul 18, 7:46 PM
    • #7
    • 7th Jul 18, 7:46 PM
    Hi,

    Please could I direct you to this link,

    https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

    Will give you an idea of the accounts that you could open to hold your inheritance payment.

    Westie983
    Save 12k in 2019 #10 Total (16000)+0/12000 = 0.0%
    Sealed Pot Challenge ~ 12 #97 Total (450)+1/500 = 0.20% ( x 11)
    Xmas 2018 1 a Day #2 Total (165)+0/365 = 0.00%
    Virtual Sealed Pot #1 Total (1300)+0/1000 = 0.00%
    2 Savers Club 2018 #16 Total (1030)+0/2000 = 0.0%

    Total 1.00/15865 = 2.00%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
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