savings

[Connemmara]

I am due money maturing in June - anybody tell me where I can put it and get a good rate of interest. Thank you.

[dzug]

Ask again in June - May anyway

Good rates tend to be on offer only for limited periods.

[factor-fiction]

Agree with dzug. But before investing it you should serioisly consider paying off any high interest loans or some capital off your mortgage if it's interest only

[sumo19]

Any answer given now will be different to the answer in June, when the Bank of England will have raised interest rates by then.

Agree...ask again in June.

[Whoever]

A couple of good websites to check out the latest interest rate deals are:

www.moneysupermarket.com
www.moneysavingexpert.com

Deals offered by banks and building societies are continually changing and offers often don't stay available for very long so you need to start checking around a couple of weeks before your fixed rate bond (or whatever it is) matures. Also, if you're a taxpayer, you may want to consider putting some of your maturing funds into a cash ISA - (After April you can put £5100 in a new Cash ISA every tax year) - so that you don't pay interest on your savings.

[Connemmara]

but the ISAs are very bad at producing interest. I had some ISAs and I actually lost money on them when the interest went down - so no I would not be happy with them at all. You may as well put the money under your mattresshahahahah

[buildersmate]

It must have been a Stocks & Shares ISA - where the investment is in products whose value can go down as well as up.
A Cash ISA is invested in a bank savings account - and will always produce some return on top of the capital invested.
The point of the ISA wrapper around it is that one doesn't pay any income tax on the interest. So the advice you were given is correct for Cash ISAs - which is what Whoever was referring to.