What is best place for highest interest rate with no risk

Hello Steve

I have £18,000 in a TSB Isa, £20,000 in a NS&I. What is best place for highest interest rate with no risk? Thanks

Chris

Answer

Morning Chris,

Regarding your query, the interest rates for cash ISA’s are quite poor at the moment but I would expect them to improve eventually, but this may not be in the next 12 months.

In the meantime one things I’ve looked at for other clients is what is called structures products, there are a variety of options and most are available for cash ISA transfers, if you can afford to tie the capital up for 3,4 or 5 years (income can still be paid out) the returns on these will be higher than what you could get available otherwise. These tend to only be available for 6 – 8 week periods at a time as there are only certain amounts of money they can accept due to the way they are structured, I know Barclays did have one around 8% per annum a couple of months ago but I would need to see what is currently available if you are interested and you would only be able to get the better products through an adviser rather than directly with a bank.

I would need to get some more information about your circumstances before giving any specific recommendation, but if this is something you’d like to find out more about please find enclosed my contact details, regards, Steve I am an Independent Financial Adviser.

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