We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Short term easy access savings
Hertsclarets
Posts: 9 Forumite
I have in the region of £90k, proceeds of a property sale 12 months ago, which has been sat in a 6% savings account for 12 months and matures at the end of the month. I saved 20k in a fixed term cash ISA for the previous tax year which has matured and has been transferred into a Trading 212 cash ISA and have 14k also in a Trading 212 cash ISA for the current tax year. Once the savings account matures, I will top up the ISA for this tax year to the max, so will have c.84k left over. The plan is to buy a property with my partner later in the year, so am looking for a home for my 84k that will pay the best interest rate but allow easy access when the time comes to buy a property. Depending on how long this takes, I will probably top up the 84k each month.
Any suggestions on the best course of action gratefully received.
Any suggestions on the best course of action gratefully received.
0
Comments
-
Pick the savings account(s) that suits you best from this list: https://moneyfactscompare.co.uk/savings-accounts/. Don't go over £85k with a single financial institution
1 -
And this is the important thing. Trading212 are not a bank. Money deposited with them ends up in NatWest, Barclays etc. You might risk losing out on FSCS protection if you're not careful.friolento said:Pick the savings account(s) that suits you best from this list: https://moneyfactscompare.co.uk/savings-accounts/. Don't go over £85k with a single financial institution
Having said that, it is extremely unlike that banks go bust1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards