Where to store cash for a year

[theEdge]

A friend got lucky and has some cash to store for a year.

He's filled up his Premium Bond and ISA allowances for the year.

Where else could he put his cash? He doesn't want to risk any of it as he needs it in one year.

 

[Directional]

how much has he got?

you could try a bank money market account, or I seem to recall some banks have deals around 8% if you dont touch the cash for a year

 

[theEdge]

He has a low 5 figure amount.

I think the 8% deal was from HSBC a year or two ago. THey only let me save £250 a month and made me sit through a pointless financial assessment.

 

[wasp]

Is there nothing else on NS&I website where he could put it that offers a half decent return?

 

[Directional]

http://www.investorprofit.com/banking/bank-02.html

The Charity Bank are apparently offering 10.3% p.a

EDIT: sorry, thats only available for five year term deposits

 

[laptop1]

Bradford & Bingley

4.85% p.a. gross/AER ........3,88% NET
24 hour online access
Minimum opening balance £1,000
Withdrawals any time via BACS to a nominated account without penalty

http://www.bradford-bingley.co.uk/savingsandinvestments/savingsandinvestment.asp