A question about : need savings help with a 20k lump sum
hi
this is my first post and am doing it to help my mum out as it is her that has recieved this lump sum so be kind 
. ok so to put it simply i need to know the simplest way for my mum to make decent intrest on her money with very little effort/ risk. preferably 10 k would be semi locked away eg 2 - 5 years maby an intrest penalty or something for early removal the other 10 k with a more easy access eg couple of days notice type acess, i have seen that currently santander and there current acc is good but from my mums point of view this may not be an option. this is because she has a bad credit rating and untill recently has had large debts and a general bad history. on top of that she is now technically jobless as she is now doing foster care full time here in lies problem 2 with a current account as she doesnt really have a full time job or any at the min (will be looking for part time in next few months) and so the fact a wage normally needs payed in would also not help. as well as this i know you can bounce money arround ect too immatate a wage but i doubt she will get that account in the first place and so need to know what other soloutions would be suitable and what avenue she would be best going down, many thanks in advance for your help. steensy
Best answers:
- https://www.thisismoney.co.uk/money/a...et-branch.html
Details of savings accounts above.
Failing that, and though the interest rate is not great, she might consider putting it all into NS&I income bonds.
The interest is paid monthly gross into her bank account and repayment readily available to her existing bank account in a few days.
https://www.nsandi.com/files/publishe...t-friendly.pdf - still not did much about where to put this money yet as its still not earning intrest yet i was wondering if anyone else had any opinions, i was thinking about an easy acess cash isa (halifax do one at 1.5% i think) does this sound like an easy soloution
- you want a santander 123 current account.
You will need to have 2 direct debits (e.g phone or gas) these will earn case back to cover the Ј2 month fee
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