Investing large savings for short term - interest paid monthly

Dazzr

Hi I have just inheritted a large amount of money and am wondering what account would best suit my needs. I plan on paying all of this money into my current mortgage at the end of July 2007 (where I will not get charged for doing so) until then I would like to know which of the banks offers the best interest rates (paid each month preferably) that will allow me to remove the money when I need to pay it into my mortgage.

I will pay the current amount I can without a charge before hand ASAP before I invest this cash.

tom188

ICICI or IceSave are current top payers with monthly interest.

dunstonh

Dont invest. Stick to savings accounts only.

Robert_Sterling

DAZZR asked about the BANKS which pay the best interest rates.
I think DAZZR is using invest to mean "put money into".

dunstonh

He used the term investing as well as suggesting savings. A lot of people incorrectly think of investment returns as interest so I was just making sure.

Dazzr

Thanks for replying - I have only just had chance to get back on the site.
I did mean - SAVE - the money for interest purposes.

My friend has suggested on online banking account with HSBC, but am notsure if that is the best method. I will look at the bank interest rates, but it isnt always as simple as what it seems - i.e. what they show is not always what you get and I like the other 99% of the people in this country do not go through all of the fine print with a highlighter.

Any suggestions with the best banks or building societies online or off (who actually give what they say they will without slapping a hidden penalty or charge) would be great.

Thanks again for those how have replied previously.

Bisoy

If you're not being choosy A&L Direct saver tops the list with 5.64% but no interest paid if you make withdrawal any day of the month but you can avoid this by withdrawing 1st of the month. Apart from that ICESAVE or icici is your other options.