Best way to invest for short-term

CSS_2

Hi there,

I've recently inherited some money and whilst I'll be looking to use it towards moving house, that probably won't be for at least a year or two.

In the meantime, I'd like to put it somewhere that will result in a good monthly rate of interest - around at least 5% but won't tie me down to a scheme for years or penalise me for withdrawing it.

It is a large amount, hence why I'm looking to use it to move to a larger property, so any tips would be extremely welcome as I'm new to all this and at present know very little about savings having only recently just paid off credits cards from my student debts!

Thanks.

maypole

Hello there

Bradford and Bingley e saver will be paying 5.22% monthly rate from the 3rd December.

maypole

CSS_2

maypole wrote:

Hello there

Bradford and Bingley e saver will be paying 5.22% monthly rate from the 3rd December.

maypole

Thanks Maypole, that does sound good. Do you know if there are any conditions with that offer?

maypole

Hello again

Also, check out Moneyfacts website, they show all the different types of account and the interest rates.

maypole

Hello there

I have a BB e saver account myself and as far as I can see, no conditions. Access to money when you want it.

It is an online account and therefore has to be linked to a current account to transfer money, so will take about 4 days to transfer I believe.

There are other online accounts. If you are 50 ar over, Northern Rock are paying 5.46 annually and just slightly less monthly.