We currently have £15.5 k sat in an ING account with 3.20% AER guaranteed for 12 months from account opening. After this time, rate then reverts to ING Direct savings account standard variable rate.

This is returning about £28 a month.

Any ideas on where we could invest this money as it is not needed for 12 -24 months to make a bit more.

Thanks in advance

 

Playing safe, Premium Bonds?

mb

 

As I said the other day put it in a defensive stock like NG or BP and it will give a divi of around £900 annually.

Chip

 

PBs is the safest bet but the return now is just so low. Saying that I had 5 up this month.

Chip

 

I would go for the NatWest 2 Year Fixed Bond at 3.5%.

Premium Bonds are no good for just £15,500 to be honest ...... chances of winning are low. I have the MAX. with the wife also having them - not won ANYTHING since November! Still a decent place for £60k if your other options are covered.

 

Best bet is to speak to someone who knows what they are talking about - an IFA would be a good start.

You've got one recommendation for very safe (NSI) and one for high risk (Direct investment in shares)

You need to decide what risk you are prepared to take with the money.

 

Me and the missus have had max amount of PB's for around just under 5 years now..

We have had £1750 return.Not the best but good enough,and the anticipation when opening the envolope is great..

 

They pay you a visit when you win a big prize on the PB's .... there is no envolope to open, all you need do is prove you are who you say you are and they pay the winnings into the account of your choice.

 

I get the impression that Tony want's the best return with his capital 100% safe. If that's the case the two best 1 year deals I've found are

1) First Save (its a Nigerian Bank, but covered to £50k by FSA)

2) Punjab National Bank (Indian Bank, but again covered by the FSA)

The latter pays, iirc 4%. So on £15.5k that's £51 per month before tax.