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  1. #1

    £120,000 where to deposit?

    Hi,
    I have inherited just over 120,000 I have no idea where to safely deposit it for the best interest rate.
    I was thinking of putting 75,000 into a 5 year fixed bond 2.25% FSCS protected then another 25,000 in a shorter term bond.

    The rest I was going to place in the highest instant access account I can find,or maybe open some current accounts and drip feed across them I think that's what some people do.
    I don't want to tie the money up for too long as I am no spring chicken.

    I cannot afford to risk the capital or lose any large sums is what I am thinking of doing sensible?

  2. #2
    OK I'm curious, why? What would happen if the capital value fell to 118,00 for example?

    If you're getting 2% interest and inflation rises to 4% then that's effectively what happens anyway right?

  3. #3
    I realise inflation is going to effect the capital and interest rates are so poor I can only see how to minimize loss without risk.
    The sentence should have read "I cannot afford to risk the capital or lose any (large sums)"
    I have children to think about I don't want to lose large sums of money on risky ventures.

  4. #4
    The FSCS limit is now 85k, not 75k

  5. #5
    Leaving that sort of sum in cash is frankly nuts, if the long term aim is to pass this on to your children.

    You really should consider taking professional advice from IFA, which is what we did after inheriting a substantial sum.

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