Looking for UK equivalent of a 12-month CD

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fogalog
Posts: 43
Joined: Sat Nov 07, 2015 11:31 am

Looking for UK equivalent of a 12-month CD

Post by fogalog » Sat Jan 13, 2018 3:45 pm

At the risk of asking a dumb question...

I am a US permanent resident and tax payer. I have some cash sitting in a zero rate bank account in the UK. I would love to put it in the equivalent of a 12-month CD but I can only find either high interest savings or ISAs (for which I don’t qualify as I am non resident). Am I missing something?

Thanks in advance...

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Ethelred
Posts: 312
Joined: Sun Oct 30, 2016 9:38 am

Re: Looking for UK equivalent of a 12-month CD

Post by Ethelred » Sat Jan 13, 2018 5:42 pm

Such things do exist, but they are not as popular as Fed in the USA. I just checked the Barclays website, and they have something called a savings bond, which is only available to their Premier customers. I'm sure some of the other banks may have something similar, or maybe with National Savings at the Post Office.

All the same, you may find either a savings account or a short-term bond fund may be a better option for you.

halfnine
Posts: 750
Joined: Tue Dec 21, 2010 1:48 pm

Re: Looking for UK equivalent of a 12-month CD

Post by halfnine » Sat Jan 13, 2018 5:52 pm

You will want to look for the term fixed rate and not CD. The Post Office and NS&I might be the easiest to sort out.

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