I'm looking to buy a house in a couple of years and I have a sum saved for the deposit. I won't need access to this money instantly, I think a 6 month / 1 year notice period is ok.

Where is the best place to put it for a high yield (in the UK)? I'm totally risk averse on this, I want a guarantee of more out than I put in.


2 Answers 2


I'd put as much of it as possible into an ISA that pays a decent amount of interest so you get the benefit of the money accruing interest tax free.

For the rest, I'd shop around for notice accounts, but would also keep an eye out for no-notice accounts. The latter might be beneficial if you expect interest rates to rise and are willing to shop around and move the money into accounts paying better interest every few months. Just make sure you're also factoring in the loss of interest when moving the money. You could look into fixed term savings bonds but I don't think they currently pay enough to make it worthwhile locking away your money.


In the US, you would probably look at a certificate of deposit (CD). I imagine there is a similar financial product in the UK, but don't know first hand.

I think it is wise to be risk averse in this situation, but be aware that your interest rate will be dismal for guaranteed returns.

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