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House sale money to invest short term but where?
AliT123
Posts: 1 Newbie
I've recently sold my house, and have the funds in my current account. I want to put them somewhere that will generate some interest for the next 6 months or so until I purchase my next property. Who is giving the best interest rates for this short term investment?
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Comments
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You say invest - do you mean invest (risk capital) or savings accounts (capital not at risk).
Assuming not invest probably simplest to put 50000 in premium bonds (all winnings tax free) and the rest in easy access/notice accounts - depending on your exact circumstances.
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#noticetable
FSCS offers temporary balance protection (above the normal 85000) for up to 6 months, up to £1M, alternatively you can just stick it all in NSand I income bonds where it is all protected by the treasury.
https://www.fscs.org.uk/how-we-work/temporary-high-balances/
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