Very short term savings???

tilly78_2

Is there any such thing as very short term savings?? Roughly 4-10 weeks.

I am sellign my property and have a 1-3 month gap before my purchase goes though. I should get around £50k back from the sale.

Is there anywhere i could save this for the short period or is it not worth the hassle and just deposit it into my current account and try not to spend it.

Thanks

CLAPTON

any instant access savings a/c with a decent interest rate
northern rock pay 2.85%

innovate

CLAPTON wrote: »

any instant access savings a/c with a decent interest rate
northern rock pay 2.85%

Can probably get a bit better interest - tilly78 could open one of those "4 withdrawals max per year" accounts if the entire amount gets withdrawn in one go. These sorts of accounts pay a little more interest.

Check here for best rates (or here)

p00hsticks

tilly78 wrote: »

Is there anywhere i could save this for the short period or is it not worth the hassle and just deposit it into my current account and try not to spend it.

Thanks

Rather than just deposit it into your current account, then, assuming you have online banking, at the very least it's worth looking to see if your bank does an e-savings account that would allow you to transfer from your current account to earn at least a bit of interest.

However be aware that, for fraud prevention purposes, the bank may impose limits on the limits on the amount that you can transfer back from your e-savings account back to your current account in a single day, so allow time to move the money back.