My wife and I sold our house and downsized approx 1 year ago and placed the balance og the equity in a Guaranteed Tracker Account with immediate access to the funds. We have recently received a bank statement indicating the amount of net interest earned. Are we entitled to ask for a breakdown (gross and net) since we have made a number of withdrawals from the original amount and therefore have no idea of the savers interest rates?

We now have approximately £54000 in our Tracker but would appreciate any advice concerning where to place the funds to earn the highest interest without risk. All options would be appreciated i.e. immediate access or fixed term.

Thank you for any help.

Nic Otine

Sorry I havent much advice for you but I'm in a very similar financial position and have been looking for a high minimum deposit savings account (up to £50,000) which delivers a higher than usual rate, 7%+. I thought there would be a number of accounts looking for this type of opening deposit but it must be a specialised area.

I thought any answers would be useful to us both, NicOtine. Sorry to hijack.

Welcome aboard. If any financial wiz out there can give us some safe advice on were to place a one off amount of

£50000+ to earn the best interest rate without any risk please please respond to this request.

Nic Otine

If you look at the money section of the website you can get an indication of the best account for your own needs. At the moment it would appear that Birmingham Midshires are offering the best term (1 year) at 7.17% APR which I am about to invest in.

There are no secret little accounts that only get whispered about in this forum, and if there were, they probably wouldn't be worth looking at.

Remember there is no such things as no risk savings, just calculated savings using the FSA guaranteed scheme.

Skywalker,

Thanks for your response. Forgive my ignorance but is the rate of 7.17% APR the Gross rate or is the Gross rate less?

Regards

Nic Otine