Daily Interest accounts

weener10

I need to invest around 120K for only 2 weeks.
I am coming out of my other high interest account shortly which pays interest monthly but you loose any interest if you make any withdrawl during a month.
I move into my new house 2 weeks after this so its not worth me investing in a monthly scheme otherwise I will loose the interest.

Are there any accounts which I can put the money in for 2-3 weeks until I move house?

I know this is only a short amount of time but its about £150-£200 of interest still.

Thanks

nilrem_2

The problem with this is the time involved in getting the cash invested and drawing it out again will soak up a fair amount of the interest, if you could open an account and get interest instantly and withdraw as quick with no interest loss it would not be a problem but the institutions seem very tardy opening and closing accounts!

The only real way I have found is to have a high interest internet account with your bank current account where you can move money instantly in and out without penalty, however the rates are not that eye catching TBH.

CLAPTON

most saving a/cs accumulate interest on a daily basis, so most will do.
just avoid those that pay nothing in the month you make a withdrawal.
Maybe a esaver linked to your bank a/c might do but it depends upon your bank of course.

cheerfulcat

weener10 wrote: »

Are there any accounts which I can put the money in for 2-3 weeks until I move house?

Ask your own bank/building society whether they offer a money market account; these are fixed term accounts but with terms as short as overnight. They can be rolled over as often as you like.