40k how to invest

cwdukmoney

We have just received £40k from the sale of our house. I want to know the best way of investing this amount short term. All risk levels and duration. Must be instant access and monthly return.

Cheers
Nik

jem16

Stick to savings accounts for the short term otherwise it's just gambling.

Look for one with the highest interest rate - Tesco Internet Saver or AA Saver spring to mind. However both are yearly interest.

Why monthly interest?

cwdukmoney

We may want to use the cash in say 3 months but want to gain as much as possible if so.

Sceptic001

Any accrued interest will be added to the closing balance when you close the account.

Dustykitten

Lloyds Vantage cheque accounts will give you 4% on balances between £5-7k. Instant access.

hollie.weimeraner

Dustykitten wrote: »

Lloyds Vantage cheque accounts will give you 4% on balances between £5-7k. Instant access.

Yes, open 3 accounts each and just make sure you transfer £1000 per month between accounts to get the 4% - there are a couple of recent threads running about this and the multiple accounts