Where to place £50k for 6 - 12 months?

principlecounts

I'm looking for a solution that'll earn me the maximum interest/returns in 6 to 12 months period, very low risk, and needs to be easy accessible at short notice e.g. 14 days.

Currently Marcus fits the bill where I can earn 1.5% in a single account. I'm willing to spread across a 2-3 accounts, but not over complicate things therefore making extracting funds difficult, what would others do?

Many Thanks for your ideas.

redpete

You easily make more interest on some of the money by opening one or more interest paying current accounts and associated regular savings accounts. Only you know whether that is more effort than it's worth.

ColdIron

redpete wrote: »

You easily make more interest on some of the money by opening one or more interest paying current accounts and associated regular savings accounts. Only you know whether that is more effort than it's worth.

Regular savers perhaps, but for 6 months you won't tuck much away. The current account game is pretty much over, outside of Nationwide FlexDirect and TSB Classic Plus pickings are slim. As you say it's up to the OP to judge the effort/reward balance and the question was about the maximum return

Me, I'd bung it in Marcus and be done with it

principlecounts

ColdIron wrote: »

Regular savers perhaps, but for 6 months you won't tuck much away. The current account game is pretty much over, outside of Nationwide FlexDirect and TSB Classic Plus pickings are slim. As you say it's up to the OP to judge the effort/reward balance and the question was about the maximum return

Me, I'd bung it in Marcus and be done with it

Yes, keeping it simple. Thanks.

ColdIron

Bear in mind that the bonus rate with Marcus finishes at the end of September. Review and respond in six months

Wanderingpomm

Ratesetter will pay you 3%

Alexland

Wanderingpomm wrote: »

Ratesetter will pay you 3%

Or they won't, as even your capital is at risk with P2P if their reserve fund proves insufficient to adverse conditions. Certainly not "very low risk" etc.

Alex

webjaved

Wanderingpomm wrote: »

Ratesetter will pay you 3%

Capital would be at risk though? The OP would be best to look at sticking it in to an account with Marcus and maybe spreading the amount across Nationwide/TSB Current/Savings accounts?

principlecounts

Alexland wrote: »

Or they won't, as even your capital is at risk with P2P if their reserve fund proves insufficient to adverse conditions. Certainly not "very low risk" etc.

Alex

Too risky. I need low risk, backed by something e.g. government, etc.

bowlhead99

principlecounts wrote: »

Too risky. I need low risk, backed by something e.g. government, etc.

If you pay tax at high rates on your savings interest income you could look at premium bonds (government backed and expected payout is better than getting 1.5% from Marcus or 1.42% from Tesco and then paying 40% tax on it). But if most or all of your interest income will be within your personal savings allowance, you might as well get the higher paying product.

I have PBs and Tesco account but not tried Marcus. I agree you do get higher rates by using high interest current accounts and regular savers - and I have more than one of each - but it can be a hassle to optimise it and you won't be earning those high rates on all the money.