Savings Account Watch

Constante
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#1
Report Thread starter 9 years ago
#1
I'm in A2 year and looking to invest £3600 in a 5 year 4.50% fixed interest rate account.

This will leave me with £1000 to help for general uni living costs.

After speaking with my father, he seems to believe that inflation will rocket soon and that historically, interest rates are above 5%. I infer from this, the 5 year term is not such a good idea?

Thanks for any advice
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jamie2124
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you infer correctly sheriff
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DeeDub
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#3
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Although i am not qualified to give financial advice. I would say your Dad is correct. In all likelihood in order to reduce the burden of debt on the economy some of the debt will be inflated away.
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jase951
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#4
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In my opinion, inflation is stable. If the MPC do their job properly it should stay that way, though the MPC are likely to stop its quantitative easing programme soon.

5 year might be a bit long... go for something along the lines of 3%.
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