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Hi from just answer. I'm PDtax. I'll try to assist.
What country are you in?
Hi again. PDtax here. I took the liberty of looking into your question history, and see you are British. Your question was posted to US finance/tax.
I will let site management know.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
I am not licensed to give investment advice, but my recommendations scarcely qualify as such! For safety i would suggest National Savings products, even Premium Bonds if you feel like a gamble, otherwise Building Society or bank deposit accounts.
Many National Savings products are tax free and, of course, from the 16/17 tax year, the first 1000 quid of interest is also tax free to basic rate tax payers (500 if you are on the higher rate).
I do hope that I have shown you a safe way forward.
It varies from product to product. You can find all the rates here: