Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Instant access high interest account?

7 replies

ButterflyTable · 30/03/2024 17:53

I need instant access to my savings about £50k (I have an ISA and a LISA) I’ve put all I want into my pension this year (about £35k) I need the £50k on hand for life.

I’ve spotted an Investec account, have you any other ideas? For instant access?

OP posts:
Barneysmomma · 30/03/2024 17:59

If you can wait a week to get your money back you could put the maximum amount in Premium Bonds (50k). The winnings are tax free and I reckon you would get about 4.4% return.

JanglyBeads · 30/03/2024 18:01

Look at Martyn Lewis's Best Buys

Partyatno10 · 30/03/2024 18:06

Are premium bond winnings tax free?

ButterflyTable · 30/03/2024 18:09

I think i could wait a week or maybe I could put half in - thanks I’ll look at Martin Best Buys

OP posts:
Oneblindmouse · 30/03/2024 18:10

I am aware that it isn't very high interest but for over a year I have had a Marcus (Goldman Sachs) instant access account paying 4.75% interest. It pays the interest monthly on the day of the month you open the account. The interest rate includes a year's bonus but after a year Marcus didn't reduce it.

Bluevelvetsofa · 30/03/2024 19:20

I’ve never had a single penny from my Premium Bonds.

Barneysmomma · 30/03/2024 20:39

Partyatno10 · 30/03/2024 18:06

Are premium bond winnings tax free?

Yes

New posts on this thread. Refresh page