Advice on lump sum

I have a sum of €40000 of savings. I have a tracker of 127K at 1.6%. As a total novice at investing and from advice on this site it is obviously not advisable to pay off part of the mortgage. I am currently with AIB. I find all the various rates available quite confusing. Could anyone give me advice on the best way to split the 40k and where to put it for the next year. One bank or several, cash deposits, gold?? At the end of the day with 40k would there really be that much of a difference in interest earned?
Many thanks
Dave

Hi Dave,

Before you can get any meaningful advice, you'd need to provide some more information, e.g.

• Any debts apart from mortgage?
• Level of risk you're willing to take with your savings
• Are you willing to lock them up for a period? If so, how long?
• Is this the sum total of your savings or is it a part?

Many thanks for the early reply.
Any debts apart from mortgage?
Thank goodness, nothing at all. Just a balance of about €127k. I have a house in France (realistic value €180k given existing markets there) this is a a result of a remortgage on my own home. Value "if it could ever sell???" about €250k.

Level of risk you're willing to take with your savings
I would be will to take a medium risk , but not on all of it.

Are you willing to lock them up for a period? If so, how long?
One to two years
Is this the sum total of your savings or is it a part?
I still have savings of about €30k in post office savings bonds.
Thanks Dave