good place for savings

[Cazza1]

Hi all,

I have just had to sell my mum's house to pay for her care home fees, hopefully this will last between 2 to 3 years. I need to split this across at least 2 banks to keep the FSA protection. Its earning no interest at the moment. Where should I move the money to, so it earns a bit of interest without any risk to the capital other than the ongoing care home fees.

Thank you

Carol

 

[nitram]

https://forum.alzheimers.org.uk/threads/poa-and-bank-accounts.111668/#post-1574925

 

[Beate]

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

 

[Georgina63]

If you don't wish to split it, NS&I could be a good option and you can invest more as it's backed by HM treasury.

 

[Kevinl]

If you don't wish to split it, NS&I could be a good option and you can invest more as it's backed by HM treasury.

Like NS&I premium bonds are government backed but the maximum holding is £50k, get lucky and you can do well, last year I well outperformed the amount I'd have got in High Street interest and it's tax free, money back in 14 days, managed online with the wins paid direct to your bank.
Some months I get nothing but last month it was £225 and as the interest rate has gone up so has the pay out in prizes.
K

 

[Cazza1]

Hello,
Thank you for your help!

 

[Cazza1]

thank you for comments its been very helpful.