Where do I put 20k but still gain easy access?!

moneymummy

Hi All! This is my first post so appologies if it's not in the right place! I am looking for advice on where to put 20k that we are due to borrow from relatives to use towards an extension on our house. Obviously as it is going to be spent over the next 6 to 12 months this is not a permanent investment, but I figured if I can put it somewhere where it earns a bit of dosh whilst it's waiting to be spent then all the better. Help from any of you people in the know would be greatly appreciated.

SHAGGY84

If you want instant access i would have your money sat in a halifax web saver without a card which will give you 4.5% aer but you will need another account with them to transfer to when you want to take some out

Speculator

National Savings have an account which pays 4.75 and allows up to 6 withdrawals per year.

Here's more info...

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=408028&in_page_id=7

mad

Best place to start looking is in the blue box above 'Instant Access'

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1098730527,15721,

The best rate I can find in the tables is with northern Rock 5.01% and I think ICIC Bank do 5.15% but there have been some problems with customer care

moneymummy

Cheers guys!
As we are not sure how often and when we will need to access the account I think we will avoid the one that only allows 6 withdrawals. Thanks for all your replies though, you have helped me out with where to start looking and what to go for!