short term high intrest savings account?

skgrate

Apologies if this is in the wrong place.
I have £200 k to invest for 2 months and want to earn the max intrest! to complete the purchase a property in france. It is currently in an account with 3.75% gross. I am sure i could get better than this but i am a novice in dealing with this ammount of cash! and am not sure how to get it to work to the max for me. any advice is well appreciated.

Stonk

You can get just over 5% gross, but if you ask me it won't be worth doing. You only have 2 months to play with, and it will take a week or more to open a new account, then a few days to get the money in (during which time it earns no interest), etc. I suspect you would not gain anything overall. 3.75% is not an outrageously low rate. Yes, if you were keeping the money for longer then you would certainly want to move it somewhere better. I just think that for a couple of months it won't be worth doing.

If you do decide to go ahead, look at the comparison-table-topping accounts and you'll find several around 4.75% to 5.25%. The really high ones have bonus rates during an introductory period only, but that won't bother you. Then you've got to find one that will be up and running quickly. In my experience Bradford & Bingley's eSaver account opened quickly, as did an account I have with the AA. ICICI, on the other hand, took over a month.

skgrate

Nice one thankyou for the tips, I have foumd out now that I may have 12 weeks until I need the cash so will check out the options over the weekend. Cheers
Skgrate