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Looking for a fairly safe interest bearing account

(6 Posts)
Katymac Thu 05-Jan-17 20:35:28

We may sell our house & invest the money while we decide where we want to live

We'd like to invest it, not risk losing any and get a tiny bit of interest

Is anything paying more than the premium bonds grin?

ImprovisingNow Thu 05-Jan-17 20:58:50

Try Martyn Lewis' site money saving expert. He always has the current best deals.

CornflakeMum Thu 05-Jan-17 21:08:56

Can I ask approximately how much you're talking about?
The problem you'll have is that most of the best paying savings accounts have maximum limits of £20-£50k so you'd end up having to open several. Other consideration is the Financial Services Compensation Scheme which only safeguards your cash up to £75,000 per institution it's held in.

I had to find a temporary home for some cash when I sold my Dad's flat and to be honest the best solution I found was the NS&I Direct Saver. Only paying about 0.8%, but the whole sum is protected as NS&I is backed by HM Treasury, so it just gave me peace of mind and I didn't have to faff about opening lots of accounts!

I presume you've had a nsoe around MoneySavingExpert for best rates etc?

Katymac Thu 05-Jan-17 21:19:52

TBH 0.8% compares quite well to what I found there

I can get 5% for tiny amounts but I don't think I could cope with having it spread out

Katymac Thu 05-Jan-17 21:22:19

We dont know where we want to live - we are a bit foot loose & fancy free
I have no job & we want change

specialsubject Fri 06-Jan-17 09:46:17

1% easy access, 2% 5 year lock in. More in the current accounts but they are vanishing.

Carney hates savers. Thats it, really.

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