Which savings account for £30k

[MorbidAndCurious]

Trying to decide between a 1 year fix at 1.1% or 3 year fix at 2%. I know it's always a gamble but WWYD?

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

There are Better savings accounts rates showing on here today. So more options for you.

For example there is 2.26% on a one year at Tandem or secure trust bank.

You can get 1.25% with some current accounts so I echo the previous poster to look into all
you options.

2.75 at market Harborough on a 2 year rate

Chase are doing 1.5%... I opened an account in minutes!

I'm very happy with Chase- you need to open a current account with them (v easy)- £1.5% instant access savings and 1% cashback on purchases for a year.

Last week I went with a six month fixed rate of 2% (Shawbrook Bank). I think the 12 month rate was 2.17% but rates are rising and I was happier being tied for six months only.

Pretty decent.

Personally I'd go for Zopa. It's quite a clever concept. The instant access account currently pays 1.30% or you can put it in two "boosted" pots paying 1.60% (95 days' notice) or 1.45% (31 days' notice).

Fixed may look attractive but interest rates are forecast to keep rising to address inflation. Capital Economics is forecasting interest rates of 3% next year. You might be better to hang fire as you'll probably be able to get 2% on an instant access account before too long. Unless you know you won't need the money.

And with inflation at 10%, money is losing 8% in real terms in a 2% interest rate account. Stock markets are volatile at the moment but over time, have delivered an average annual return of 8-10% over the last 40 odd years.

Have you thought about premium bonds?