How do I find a secure savings account, I have £60K earning 0.5% interest, its awful, but secure, so what should I do?.

I am willing to listen to anyones advice.

Hi Cha-Cha, and welcome to the forum.

I agree that's a very poor rate and you should be able to do much better, particularly as you're willing to invest for a few years.

As £60k is quite a substantial sum, I would recommend you consult an independent financial advisor.

Hope this helps.

Yes I would do but are they truely independent, i used one when I retired and he tried to steer me into a share scheme, which I didn't follow. So do I Google to get one or is there a registered Group, whom I can contact?.

If they're FSA registered as 'independent' then they have to give you the best advice, and they must tell you their terms of business.

If you can't find any locally by recommendation, just google 'independent financial advice' and you will find loads. Some of them will give you a free initial consultation with no obligation.

You can get a 3% return in an Halifax saver account and also 3% on a cash ISA.

Hi Cha-Cha, and welcome.

If you're happy to lock your cash away for 2 to 5 years, I would suggest a fixed rate bond with any UK bank or building society where your savings are covered by the Financial Services Compensation Scheme, most of the well known names are, but it's always wise to check! In the event of the bank failing, your savings are covered through the FSCS up to the limit of £85,000 per person per institution.

You can compare fixed rate bonds here...

http://www.money.co.uk/savings-accounts/2-year-fixed-rate-bonds.htm

http://www.money.co.uk/savings-accounts/3-year-fixed-rate-bonds.htm

There are also comparison tables for 4 and 5 year fixed rate bonds available too.

There's a very good guide to the FSCS scheme here...

https://my.money.co.uk/guides/guide-details.htm#id=1505

Hope that's of some help.

personally i would invest it in property as you can get some real bargains and rent maybe a shop with a flat above which can double your rental income if you do your homework you will get a minimum 8% return plus the inevitable upturn in property prices if kept as a long term investment.

Hello cha-cha
Since you have posted a question in savings section asking for a savings account, I won't mention the "I" word. I suggest, you take fruitcake's advice below and you would not go wrong.

My bank have now offered me a 3year bond at 2.65%, but they have asked for proof of identity, passport pictures countersigned, copies of driving licences all stamped and signed to say we are who we are, what is going on?

It is automatic that you will be asked this information. When I opened a new bank account a couple of year's ago I was asked for these items plus utility bills with name and address on even though I already had three more accounts with them. It is for security reasons. a 3 year bond at 2.65% isn't all that good. Have you searched thoroughly for better offers. Good luck