where to 'park' c£100k for around 3 months?

tinkerbell84

my friend has just sold a flat, and it will be a few months before the new one is built.

what's the best account for this amount of money? - need instant access and no penalties for withdrawing, but want to maximise income on the money while it's waiting to be spent.

any ideas?

isofa

Icesave, Kaupthing Edge, etc any high interest instant access account, up to 6.5% gross.

Have a look at the listings at Moneyfacts.

[Deleted User]

Instant access savings account:

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#topaccounts
and http://www.thisismoney.co.uk/saving-and-banking/best-savings-rate/article.html?in_article_id=394164&in_page_id=50

Howver take a look http://www.moneysavingexpert.com/savings/safe-savings#safe for a discussion of how safe your savings are and the £35,000 rule.

If you're friend isn't inclined to split the amount over 3 - 4 accounts then they could then consider National Savings and Investments (NS&I) and Northern Rock (also discussed in the above article).