Best (short term) savings option for 150K?

pistonbroke123

I'm starting to go cross-eyed researching all the variables on Easy Access savings accounts, so I'm hoping someone can give me a good, quick steer.

I'm about to receive around £150K from a house sale and won't be investing it properly (new house or stocks & shares) for about 6 months.

[Before I get any 'lucky sod' comments, this plan does involve moving back in with my parents, so it's not all gravy!]

I don't want the funds sitting in a low-rate current account, but I do want to maximise my return and still have it available at short notice when I'm ready to invest next year.

There are some good options (like Santander 3%), but they all have limitations such as fixed terms of 1 year, or maximum limits of £20,000.

Does anyone know a good account for me to put the lump sum and be sure I'm getting a good return?

The most flexible I've seen so far is Tesco online, but that's only 1.35%, which already includes a 0.60% first-year bonus. So it doesn't look great.

Also considering putting part into NS&I bonds. It's nice getting those £25 cheques most months

Thanks in advance for any help.

Archi_Bald

For £150K for just 6 months, your easiest and safest bet is the NS&I Direct Saver.

It doesn't pay the best interest but it is hassle free. There are obviously some accounts that pay more interest but you'd need at least 2.

£40K in Premium Bonds are an option if you want a gamble but remember you have to have the money in there for a full calendar month before you participate in the draw. The PB average (not guaranteed) interest rate is 1.35%

Don't expect to make much over a 6 month period.

orcocan

dont forget 150k is above the depositor scheme guarantee threshold, you'll have to break it up into two or more accounts