yep as title says any bankers or people who know about saving, interest and all that boring crap?

basically i got a good sum of cash in an account that was supposed to be a good interest etc but about £3 a month really aint that good on wot is in there, in my opinion.

dont have to fill board up with boring crap so if ya know about this lark let me know and we cam pm.


Have a look at the Natwest 1 year bond , its not amazing but will give you after tax about 1.70%.

Not totally locked away either , you can access your money if you need it minus 90 days interest.

Im no expect or even that clued up by the way , just something Im trying at the moment !

Im sure someone else will offer better advice or tell me the bonds are crap !

You can put up to £30k in premium bonds & stand a chance of winning something each month which is usually better than the pathetic interest rates about at the mo. And get the dosh out again with about a 2 week notice.

(This is obviously not a banker’s advice and is a bit of a gamble as you may not win anything but we think it’s worth a try)

The Santander 123 account is a great deal. If you open an account with them and pay in only £500/month the will pay you interest on the balance you keep in there up to £20k - good interest - 3%! On 20k that is almost £40 per month after tax (which they withold). The account is a normal current account so you can get your money anytime and the have a credit card which also pays cashback - 3% on fuel purchases - so again - very nice. The account costs £2 per month - but it’s very easy to beat that in interest coming back at ya.

If you have larger sums than that sitting around then you should consider what you want to do and how long you plan to keep it. You should speak to an IFA about that. My sister is an IFA (and a good one at that), but she charges for her time so it’s only worth speaking to her if you have a niceish nestegg. If you want the cash available and we’re talking less than 50K then Santander account and an ISA is what I would be doing…

I normally look here for advice…

If you haven’t already, use up your Cash ISA allowance for 2012 / 2013 (£5,640), then when the new tax ISA season comes in (April 6) you can use the 2013 / 2014 allowance (£5,790).
You’ll need to do some research to get the best interest amount - looks like 2.5% - 2.8% - Main advantage is you don’t have to tell the tax man about interest earnt - tax free.
If you’re feeling more adventurous look down the Equity ISA route.

Hope that helps.

An average Premium Bond payout equates to a 1% interest rate and is tax free.
i.e. even holding the max allowed (30k) you’ll only win about £300 per year.

Even fixed rate bonds (that lock in your money for say 5yrs) only return 3% which will then be taxed.

Cash ISAs (max about 11k) can return about 3% but usually only for 1 year then they drop to 1%.

As jetstream said… a pathetic interest rate.

Well this is all very sensible advice from the board. Not one person has just said blow it on booze, bikes and birds. That’s the kind of interest I like.

As mentioned, premium bonds are a good bet, but with what’s actually available in the banking world right now, it’s kind of the last place you’d want your cash.

In just waiting for the screw the banks thread where we see photos of a new bike :smiley:

ahem, am guilty of that already, 2 bikes so far 1 harley and now a triumph bonneville, some has been spent on beer of course, lol
but yes good has been kept on track and some good advise but i still dont know wot to do, lol

Screw the bankers. Giving them your money is like voting…it just encourages them.

(ps. If you have a mortgage - no brainer to pay it off that at the moment)

Why not spend it on a classic bike, if you choose wisely and don’t bin it the bike will continue to rise in value and you’ll have an appreciating asset that you can be proud of too :slight_smile:

Can’t help but endorse the Santander 123 post. I’m just bemused that this pays well but the same company’s bonds and ISAs are at a lower rate.

Alternative. The fastest rising consumer prices, and therefore the best earner, right now are in food.

Now how the feck do you make money out of that?