Short term home for about £40k

Leg-end_2

I have savings in various places that can stay where they are for now. However, I am looking for a place to keep about £40'000 for about 2 to 4 months. What is the best option for this, ideally with easy access if required?

Loco

Ulster`s Pathway account, fixed rate of 3.6% for 6 months but instant access to your money anytime might be your best bet

http://www.ulsterbank.com/ni/personal/saving/instant-access/pathway.ashx

devilment

If you don't already own any, why not use £30,000 of it to buy Premium Bonds? You'll only be eligible for about 3 draws but you might hit lucky and win one of the larger prizes.

This is what I have done with the £10,000 from a savings account when the good rate deal ended. My intention is to use this cash to pay off a lump sum against my mortgage once I'm outside the penalty period for overpayments. As this is only a few months away and the most interest I'd hope to earn until then was £100 by moving it to another savings account I decided to take a punt on PBs. If I get small prizes to the value of £100 then I'm no worse off and anything over that is a bonus. Of course, I could win nothing...

Leg-end_2

I like the idea of premium bonds. You neve know i may get lucky....


or i could go red or black :eek:

PB's sound like a good option as long as I can get the money out within a couple of weeks.

Alter_ego

Leg-end wrote: »

I like the idea of premium bonds. You neve know i may get lucky....


or i could go red or black :eek:

PB's sound like a good option as long as I can get the money out within a couple of weeks.

It's easy to cash them, but be careful not to just miss out on a draw.

lingwood

Alter_ego wrote: »

It's easy to cash them, but be careful not to just miss out on a draw.

You can tick the box to have them paid out after the next draw. Money can then be in your bank within about 5 working days.