QUESTION RELATES TO UNITED KINGDOM (I'm in SCOTLAND).
If someone who works in Banking or Financial Advice answers this, I will be most grateful.
I have a tidy sum in a bond that matures REALLY soon.
Is there a U.K.account or bond paying up to 5%, that will allow me to make an initial lump sum deposit and then let me add funds from time to time and also let me make withdrawls when these are required?
Because of my age, health etc. I would only want to commit to either a one year or two year arrangement.|||You will not get 5%+ for 1 or 2 year terms. You can get 5.4% for 5 year and slightly less for monthly interest payments.
Taking out / putting in will greatly reduce your interst rate as it becaomes an "ordinary" account, you will only get - say 3.2%.|||I hate giving financial advice because it can prove to be wrong (you can check at moneysupermarket.com) but I doubt there is an easy access account paying 5% at the moment.
Shares may be a better bet for a good return. I intend to put some money into a FTSE100 tracker fund within an ISA soon.
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