See my interest monthly ?

williams55

Im about to come into a lump sum from my house sale . I will need to invest it for 3 months until my new home is completed . Is there a good saving account which will add my interest monthly . I see some add it yearly , would this mean if i closed account when i make the withdrawal of funds would i not get any interest .
thanks

Kazza242

Moneyfacts lists a number of monthly interest paying accounts, here are some of them:

- Yorkshire BS pays 5.1% from 27th August.
- Bradford & Bingley eSavings pays 5.10% from 3rd September.
- Capital One Base Beater Savings pays 4.80%.
- ING Direct will pay 4.75% from 1st September.

Here is the link to the MoneyFacts list of monthly interest paying accounts. Moneyfacts also provide a savings account search facility.

Dan29

You'd still get interest in an account that paid annual interest; it would be paid to you when you closed the account.

Kazza242

williams55 wrote:

I see some add it yearly , would this mean if i closed account when i make the withdrawal of funds would i not get any interest .
thanks

If you close an (easy access) savings account, that pays interest yearly, then you will receive all the interest it has accrued up to the date that your account is closed. Therefore, if you had money in an easy access savings account for 3 months and then closed the account, you would receive 3 months' worth of interest.

williams55

Thats cool people ,
thanks for the fast replys . MSEers have once again come to my aid ..
cheers folks

richgirl

williams55 wrote:

Im about to come into a lump sum from my house sale . I will need to invest it for 3 months until my new home is completed . Is there a good saving account which will add my interest monthly . I see some add it yearly , would this mean if i closed account when i make the withdrawal of funds would i not get any interest .
thanks

halifax do a 3 month fixed rate websaver at 5.15%