The purple "money" tab at the top will help you to compare interest rates in bank savings accounts. In my view, you should put some of the money into a stocks and shares ISA and/or one of the larger UK unit trusts or investment trusts. If your priority is to keep risk low, the amount that goes into equity-based investments should be a small percentage of the total - maybe just £5000 - but investing in bank savings accounts will do little more than keep up with inflation before any withdrawals.

Another option that will suit some people but not others is to start or take over a business. If this has any appeal, it's worth looking at Daltons Weekly, to move cautiously and not to put all your money into something like this.

Hi, I would like advice on where to invest £60,000 cash for the long term in order to generate monthly income at the highest possible rate? I was made redundant, have not been able to find a job and don't want my cash to be frittered away and would like to use it to try to generate income. I already have a cash ISA for this year and do not want high risk investments as this is all the money I have for my old age and without a job would like to use it to bring in cash, albeit a little given interested rates. Thanks.