Best short term place for large lump sum

jammerr

if i am going to be holding 100k in an account for a few months, where is the best place to put it? i'll need the full 100k withdrawn again after a few months.

thanks

InsideInsurance

How much risk are you prepared to take (if any)? Have you used up you 2012/2013 ISA allowance or do you intend to?

Assuming no risk wanted and not wanting to use ISAs for it then split it between the top 2 current savings accounts (to ensure your within the compensation scheme limits which is up to £85k with 1 provider)

jammerr

little to no risk.

i havent used up my isa limit this year. though i thought the point of the isa was you can only put so much in per year.

any current accounts which give a good % for those opening a new account? or am i out of luck here?

lisyloo

Your pretty much out of luck.
Savings rates are on the floor, but at least it will be safe if you put it in 2 accounts (ideally make sure they aren't part of the same "group" for compsation.

mulronie

jammerr wrote: »

if i am going to be holding 100k in an account for a few months, where is the best place to put it? i'll need the full 100k withdrawn again after a few months.

thanks

How close are you to London, Manchester, Birmingham or Glasgow?

Bank of China (UK) are offering a 3 month fixed rate of 3% on sums between £50k and £100k. (3.55% on sums above £100k, but no FSCS protection on anything above £85k).

SallySunshine

mulroney, a very interesting post re The Bank of China,

Just looked up its website, I couldn't find any other interest rate for longer periods?

Not that there is a branch anywhere near me though.