[MickB]

Hey everyone, I don't get on here much of late for to a lot of reasons, family things going on mainly but I feel I still am a part of the vzi family and all the wise folks it has
With that and the unfortunate passing of my father in law, my wife has some inheritance and we want to put it into a savings account but not locked in unaccessible, would like it safe out of our current account, we have joint account, and in a savings but with no penalty to access it.
My pretty uneducated brain, as we have never had enough money to have savings, has seen one with Yorkshire Building Society that seems reasonable. Tried watching the Martin Lewis money show last night but the bloke irritates the hell out of me
Thanks in advance all

 

[Sol Ford]

At the moment, unless you're talking £££££££'s, most bank/building society savings accounts offer so little interest, it's more a case of which one loses the least value.

Some ISA's, or whatever name they're currently using, will give you a better rate and will allow a certain number or amount withdrawals a year/term.

Hopefully someone a bit more hands on will be along shortly.

Good luck with it 👍

 

[MickB]

Cheers buddy, we're looking at putting £25k in savings

 

[Brian Burrows]

Hi Mick,

My condolences mate.

Like Sol says ISAs or Bonds would be your best bet mate.

Good luck.

 

[Bada Ben]

On TV last night, Martin Lewis was saying the only reason to go for an ISA is the Tax free interest but everyone already has a 20K tax free savings allowance, and you can get better rates from Bank Savings account. So only go ISA if you have already put 20K in bank savings. Perhaps worth checking the details.

 

[slim_adi]

Money saving expert website is probably your best bet. You don’t have to listen to Martin Lewis then !!
They usually have comparisons for the “best” accounts based on varying levels of capital.
worth an hours trawl i reckon
My condolences for your loss

 

[MickB]

Thank you all

 

[GARRICK.CLARK]

Tesco Bank have good 2 year fixed accounts. Over 4 %. Atom bank ( its a phone app bank). Offer 2.55 % instant access.

 

[flat4fanatic]

Coventry BS do a good instant access one Mick. Apply online then pay in at a branch

 

[Forsh]

Hi Mick,

My condolences mate.

Like Sol says ISAs or Bonds would be your best bet mate.

Good luck.

+1 for bonds - I have one called Janus Henderson European Selected Opportunities Fund
I've done ok from it - it's been a bit flat after covid and Ukraine but up 10% since September
Simple enough online dashboard and you can sell units as and when and it's transferred to you bank in a few days

 

[Mr Big]

Have you thought about Premium Bonds Mick? Obviously there's an element of risk that you don't win much but it keeps it interesting. If you want an easy option Chase have a really good app, instant access and transfer in and out and currently 2.7% on savings.

 

[Forsh]

I love the flexibility of Chase account & app
With the ability to switch your money between savings and spending and 1% cash back on spends

 

[ghia70]

Marcus by Goldman Sachs pays reasonable interest on savings
Yorkshire BS ISA is OK
Premium Bonds is a great shout and with £25k should provide pretty good chance of winning the lower prizes regularly and all tax free. they also have a savings account option.

 

[Forsh]

Chase... and currently 2.7% on savings.

Just received an email - going up to 3% from 13th Feb

 

[pmacs49]

i pu my savings in premium bonds, 50k in my name 25k in my partners. in the last year i had 800 in winnings, on mine alone. my partners being max out at 50k had a simular amount,
if you have over a 100k you may well consider buying into the property market, buy a buy to let, 3 beds av 800 a month,
or just buy a nice shiny VW camper.

 

[Forsh]

People will say you can get a better return in a bank account than Premium Bonds but 2%+ return from a £1,000,000 lottery isn't too shabby - Fingers crossed for the big one @pmacs49

 

[lukej]

I have an investment isa with Vanguard. Everything in the S&P 500.
Long term year on year is over 10%