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Short Term Cash Deposit
Remington68
Posts: 1 Newbie
We will have approx £700000 to deposit from the sale of our house.
We will be renting after the sale as our new property won't be ready to complete until January at the earliest. Where would be the safest place to deposit this amount that also earns a little bit of interest? We could give around 30 days notice for a transfer out of the account.
Appreciate any guidance - thank you
We will be renting after the sale as our new property won't be ready to complete until January at the earliest. Where would be the safest place to deposit this amount that also earns a little bit of interest? We could give around 30 days notice for a transfer out of the account.
Appreciate any guidance - thank you
0
Comments
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Any bank will do, for first 6 months. Then shop around.1
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Or NS&I with no time limit.
Note that some savings accounts have maximum limits on the amount that you can deposit into them.1 -
Just in case you don't understand this comment, for 6 months there is temporary high balance protection in banks, where the usual protection limit is £85K per person.Sam_666 said:Any bank will do, for first 6 months. Then shop around.
Temporary high balances | Check your money is protected | FSCS2
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