where to stash savings

[sugarfree]

I generally try to squirrel away 10% of my salary every month.  I've deposited funds in the Livret d'Epargne Populaire, Livret A, and Livret de Developpement Durable, up to the maximum amounts permitted.  In addition, I've been sending money to the Nationwide and buying a Nationwide bond every so often, but the £50,000 limit for compensation under the government's protection scheme is fast approaching and I don't want to exceed that.

Any suggestions as to where I could put my savings (polite ones only, please)?  I'm not interested in anything that involves exposure to the stock market.

 

 

  

[minnie]

I think that I read somewhere (someone please correct me if I'm wrong), that the guarantee under UK banks only exists if you are resident in UK. I do stand corrected on this...

[Juswundrin]

"I think that I read somewhere (someone please correct me if I'm wrong), that the guarantee under UK banks only exists if you are resident in UK. I do stand corrected on this."

No, the FSCS covers you (up to its limits, of course) regardless of residence.

[tinabee]

[quote user="sugarfree"]

I generally try to squirrel away 10% of my salary every month.  I've deposited funds in the Livret d'Epargne Populaire, Livret A, and Livret de Developpement Durable, up to the maximum amounts permitted.  In addition, I've been sending money to the Nationwide and buying a Nationwide bond every so often, but the £50,000 limit for compensation under the government's protection scheme is fast approaching and I don't want to exceed that.

Any suggestions as to where I could put my savings (polite ones only, please)?  I'm not interested in anything that involves exposure to the stock market.

  [/quote]

Assurance Vie - Fonds en euros

[Pickles]

[quote user="tinabee"][quote user="sugarfree"]

I generally try to squirrel away 10% of my salary every month.  I've deposited funds in the Livret d'Epargne Populaire, Livret A, and Livret de Developpement Durable, up to the maximum amounts permitted.  In addition, I've been sending money to the Nationwide and buying a Nationwide bond every so often, but the £50,000 limit for compensation under the government's protection scheme is fast approaching and I don't want to exceed that.

Any suggestions as to where I could put my savings (polite ones only, please)?  I'm not interested in anything that involves exposure to the stock market.

  [/quote]

Assurance Vie - Fonds en euros

[/quote]

Assurance Vie - fonds en euros gets my vote. Just be careful in case there are fees.

Regards

Pickles

[Baz]

[quote user="sugarfree"]

I generally try to squirrel away 10% of my salary every month.  I've deposited funds in the Livret d'Epargne Populaire, Livret A, and Livret de Developpement Durable, up to the maximum amounts permitted.  In addition, I've been sending money to the Nationwide and buying a Nationwide bond every so often, but the £50,000 limit for compensation under the government's protection scheme is fast approaching and I don't want to exceed that.

[/quote]

Just a couple of points, firstly the limit is increased to £100,000 if in joint names. The second point is that following a European Commission ruling on 12 July 2010, the £50,000 savings safety limit will almost certainly increase to €100,000 at the end of 2010. Based on exchange rates at the time of the announcement, that equates to £83,680 of protection, though the exact Sterling amount has yet to be set. This has to be confirmed by the British Government, however, the Financial Services Compensation Scheme say this  should only be a formality.

Baz

[parsnips]

[quote user="Pickles"][quote user="tinabee"][quote user="sugarfree"]

I generally try to squirrel away 10% of my salary every month.  I've deposited funds in the Livret d'Epargne Populaire, Livret A, and Livret de Developpement Durable, up to the maximum amounts permitted.  In addition, I've been sending money to the Nationwide and buying a Nationwide bond every so often, but the £50,000 limit for compensation under the government's protection scheme is fast approaching and I don't want to exceed that.

Any suggestions as to where I could put my savings (polite ones only, please)?  I'm not interested in anything that involves exposure to the stock market.

  [/quote]

Assurance Vie - Fonds en euros

[/quote]

Assurance Vie - fonds en euros gets my vote. Just be careful in case there are fees.

Regards

Pickles

[/quote]

Hi,

 Go for internet contracts ("Linxea", "Fortuneo" --there are others) They are run by some of the biggest and well-respected insurers and have NO entry fees, low annual management fees , and usually free fund switches. You can run them online.

[PaulT]

My mattress is always available [:D]

[Bugsy]

What are savings ?[:(]

.

[sugarfree]

OK, that's good news about the higher limit.  I didn't realise the amount doubles if the account is in joint names ( it is).

Re. suggestions that I buy "assurance vie" products, aren't these stockmarket based?  I'm looking for something that offers zero risk, i.e. a vehicle for savings rather than investment.

Many thanks for all the replies.

 

 

 

 

 

[Chardie]

Sugarfree - aren't you suppose to be a UK resident to invest in one of Nationwides bonds (irrespective of whether you have an account with them)? Maybe if you  still have a UK address its feasible although not strictly correct to do this. I have been doing loads of research re this in preperation for our move to France and at the moment only Uk resident based bonds look attractive which we will not be eligible for if we become french resident unless we take them out before we move - but then what to do when the bond is paid up in a few years? - The off shore bonds interest rates are rubbish.

 

[mint]

Even in the UK, it's hard to find a savings vehicle that will pay more than the inflation rate there at the moment.

[Pickles]

Assurance vie fonds en euros are savings products rather than stock market products. Generali was offering a guaranteed 4.1% for this year, IIRC.

Regards

Pickles

[sugarfree]

I've had several Nationwide bonds over the past few years and never had any problems opening them (I did it on-line).

The Nationwide are well aware I'm a non-resident:  I've been living in France for 13 years and they send my statements to my French address.

 

 

[woolybanana]

Offshore is offering over 4% currently. See Clydesdale Bank and some others.

[Pickles]

[quote user="woolybanana"]Offshore is offering over 4% currently. See Clydesdale Bank and some others.[/quote]

Clydesdale is only offering 4% + on sterling deposits. As far as I can see, if you have € that you want to put in a savings account, then the best rates are in assurance-vies. Euro deposit account rates are low.

Regards

Pickles

[val douest]

We are just about to lnvestigate Assurance Vie as a savings option.  I found an article on the internet

http://www.expatica.com/fr/essentials_moving_to/essentials/Assurance-Vie-_-An-expatriate_s-guide_11550.html

which explains the concept quite well.  I gather that anyone under 70 who invests in one of these before they move to France gets extra advantages so maybe it would be worth having a look before you move, Chardie.

Val

PS Pickles, the assurance vie you mention with Generali - could you please tell me if is this in a very secure low-risk option or something else, as I gather there is a great deal of choice of products, depending on how adventurous you want to be.