hogmaw Posted February 2, 2009 Share Posted February 2, 2009 I just got a notice in from Abbey bank saying that the interest they are paying my company reserve account is now 0.1%. Incredible, but true. It used to be 4% just a year ago, and that paid a few hundred quid a year. Anyone have any ideas where to put £10k that's safe and needs easy & quick access should I require it? Quote Link to comment Share on other sites More sharing options...
flukey-lukey Posted February 2, 2009 Share Posted February 2, 2009 Put it under your bed, quick and easy access guaranteed ..and then give me your address Quote Link to comment Share on other sites More sharing options...
imi Posted February 2, 2009 Share Posted February 2, 2009 I just got a notice in from Abbey bank saying that the interest they are paying my company reserve account is now 0.1%. Incredible, but true. Teaches you a lesson to save. Quote Link to comment Share on other sites More sharing options...
Fifty Posted February 2, 2009 Share Posted February 2, 2009 stick it in Gordons Pension Fund thats guaranteed to go up Ing Direct still offering easy access at 4 (includes bonus so youll have to move it after 12 months ) , or when they to kick you in the balls. Rich Quote Link to comment Share on other sites More sharing options...
DaveK Posted February 2, 2009 Share Posted February 2, 2009 Halifax have a Guaranteed Saver account - instant access, with up to 4 withdrawals in a year (you can take more, but interest rate plummets). Currently at 2% but 3% if you have a current account with them. And their high interest current account is currently 2.5% which is more than some banks (including mine) are giving on their savings accounts. Quote Link to comment Share on other sites More sharing options...
hogmaw Posted February 2, 2009 Author Share Posted February 2, 2009 I'm thinking of Premium Bonds at the mo EDIT cheers for that I will check Halifax Quote Link to comment Share on other sites More sharing options...
Lbm Posted February 2, 2009 Share Posted February 2, 2009 Do you have a mortgage? If so, perhaps you could put a contribution towards that, given savings accounts are almost worthless. Failing that, I've got a safe pair of hands, so I'd be delighted to manage your funds Quote Link to comment Share on other sites More sharing options...
hogmaw Posted February 2, 2009 Author Share Posted February 2, 2009 Do you have a mortgage? If so, perhaps you could put a contribution towards that, given savings accounts are almost worthless. Mortgage will be paid off soon Besides it's the company's money, not mine Quote Link to comment Share on other sites More sharing options...
Chris Wilson Posted February 2, 2009 Share Posted February 2, 2009 Premium Bonds. Or under the bed, no other choices really unless you fancy buying some gold. Quote Link to comment Share on other sites More sharing options...
Chewie Posted February 2, 2009 Share Posted February 2, 2009 Premium bonds get the thumbs up but you need to stick £££££s in to have any chance of winning a prize. Max investment is £30K. The odds of winning any prize was 1:24000. Do the maths and if you should win something every month if you've got at least £24K. But a few months ago they reduced the odds to 1:36000. Last month was the first time in ages I didn't win anything. I'm keeping my fingers crossed for the the February draw. C'MON!!! Quote Link to comment Share on other sites More sharing options...
Dnk Posted February 2, 2009 Share Posted February 2, 2009 ABBEY have a savings account paying 4% with easy access, no penalties if no withdrawls in 12 months Quote Link to comment Share on other sites More sharing options...
imi Posted February 2, 2009 Share Posted February 2, 2009 Cahoot are pretty good Quote Link to comment Share on other sites More sharing options...
Lbm Posted February 2, 2009 Share Posted February 2, 2009 Cahoot are pretty good Indeed- they're the internet part of Abbey. Quote Link to comment Share on other sites More sharing options...
imi Posted February 2, 2009 Share Posted February 2, 2009 Indeed- they're the internet part of Abbey. yup - i've been with them for 6 years now. Still think the safest place for ones savings today are under the bed though.... Quote Link to comment Share on other sites More sharing options...
RiceRocket Posted February 2, 2009 Share Posted February 2, 2009 Still think the safest place for ones savings today are under the bed though.... And in a fire-proof safe. Quote Link to comment Share on other sites More sharing options...
Nick Posted February 3, 2009 Share Posted February 3, 2009 You can still get 3.5%-4% which isn't great, but it's better than nothing in these times. http://www.interest-rates.org.uk/ukcomparison.htm Need to keep an eye on the accounts though as the banks have a habit of drawing in customers with one rate and then lowering it shortly afterwards. They then advertise a new account with a very similar name to draw in more new customers. Of course you can only get the new rate if you invest new money which is cheeky. Means moving cash around once in a while but it's better than being seen off. Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 3, 2009 Share Posted February 3, 2009 Still think the safest place for ones savings today are under the bed though.... I'd put it into NS&I if you want it to be safe. Quote Link to comment Share on other sites More sharing options...
stevie_b Posted February 3, 2009 Share Posted February 3, 2009 Still think the safest place for ones savings today are under the bed though.... I'd put it into NS&I if you want it to be safe. The financial services compensation scheme should cover cash deposits at any of the main banks/building societies too: FSCS, and at £10k you're well under the £50k limit per institution. Quote Link to comment Share on other sites More sharing options...
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