100k safe investment for short term.

wanderingsolo

Aside from keeping 100K sitting in a Uk bank account earning 0.1% interest, is there anywhere better to place this money for a better return for the rest of the tax year? I have maxed out my ISA for the year and wish to use this money for a house purchase in March/April next year, so don't want this money tied up and not easily accessible, nor at risk of losing what I put in. Where is the best place to place this sum for the next 8 months other than keeping it sat in a next to no interest UK bank account? Thanks

grumiofoundation

First thought is a UK bank account earning 10x the interest?

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Are you eligible for a lifetime ISA? 

eskbanker

grumiofoundation said:

Are you eligible for a lifetime ISA? 

Unlikely to be suitable given this:

wanderingsolo said:

I have maxed out my ISA for the year and wish to use this money for a house purchase in March/April next year, so don't want this money tied up and not easily accessible

Albermarle

Best to avoid all high st banks saving accounts 
https://moneyfacts.co.uk/savings-accounts/

xylophone

Open a Direct Saver and an Income Bonds account with NS&I and have the monthly interest on the IB paid into the DS?

https://www.nsandi.com/our-products

Copperbark

Premium bonds are worth a look.  They pay winnings as opposed to interest, so income is not guaranteed and "lumpy".  But with a decent sum to invest, you'd likely get a decent average payout rate.  I averaged over 1% when I had money there.  Plus they're tax free and separate from ISA allowance.

Lots more detail in an article on Premium Bonds on this site which shows 1.33% payout rate for £15k+. 
(Sorry - apparently I can't post links yet).