£10K to save for 3 month

first98

Hi all,
Title explains it really, I have £10k sitting in a joint account making no money, where would the best place to put this be?
I'll need around a week notice to have access to the money, can't risk losing the money.

Would premium bonds be my best bet here?
Thanks in advance

badger09

Easiest: Marcus - 1.5% lots of info on here

More effort - current accounts eg Nationwide Flexdirect, TSB & Tesco
again, lots of info on here and on the Budgeting & Bank Accounts board

triplea35

I don't think Premium Bonds suitable for such a short term. Money paid in now would not be eligible until Decembers draw.

I found Marcus easy to open and manage. Bear in mind though over 3 months you will earn interest amounting to £37.50

rathernot

With all due respect you'll earn so little on £10K over 3 months that it's almost not worth the hassle.

first98

rathernot wrote: »

With all due respect you'll earn so little on £10K over 3 months that it's almost not worth the hassle.

I thought that, hence why I thought about Premium Bonds because I've got more chance of winning £1m with them sitting in there rather than them sitting in my anytime savings account!

Don't want to open a new account for them to go in, just add them to the existing ones...

A_T

£50 interest. Mighty as well just stick it in the Premium Bonds.

nbrewitt

Marcus by Goldman Sachs is most probably the best place for 10K over such a short period.

ColdIron

first98 wrote: »

I thought that, hence why I thought about Premium Bonds because I've got more chance of winning £1m with them sitting in there rather than them sitting in my anytime savings account!

Chances of winning £1,000,000 in your anytime account - 0

Chances of winning £1,000,000 with 1 PB in any one month - 1 in 35,926,766,878

Not much in it I'd say

jimjames

rathernot wrote: »

With all due respect you'll earn so little on £10K over 3 months that it's almost not worth the hassle.

I guess if you're happy to throw away nearly £40 then you're on the wrong site! Feel free to throw it in my direction!

first98

ColdIron wrote: »

Chances of winning £1,000,000 in your anytime account - 0

Chances of winning £1,000,000 with 1 PB in any one month - 1 in 35,926,766,878

Not much in it I'd say

Well I did win a lucky dip in the lottery last week so I've obviously walked into some luck.. LOL

ColdIron

You're on a roll. The PB calculator reckons you'd win £25 with average luck. I don't know if that takes into account that you'll only be eligible for the Dec and Jan draw. Marcus is guaranteed to pay about £37.50. If you have better than average luck you could win an extra £12.50, if your current winning streak splutters out you'll win nothing. So go on punk ...

https://www.moneysavingexpert.com/savings/premium-bonds-calculator/