Help please Savings - short term, easy access, monthy interest

edited 30 November -1 at 1:00AM in Savings & Investments
2 replies 556 views
TaznessTazness Forumite
28 Posts
edited 30 November -1 at 1:00AM in Savings & Investments
Hi I have been watching this site with interest for months and now I need some help.
I noticed another thread on a simmilar topic but by the time I registered I lost it :confused:

Anyway, My partner and I have just sold our house, we are moving into rented for a couple of months whilst we find the house we want. So we have about £150000 to invest. Naturally we want as much interest as possible and it may only be in there for a couple of months 6 max. I would like monthy interest.
Where do you think we should invest it ?

Thanks in anticipation
Taz

Replies

  • jamesdjamesd Forumite
    24.8K Posts
    Part of the Furniture 10,000 Posts Name Dropper
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    This is the territory of high interest savings accounts so just look at the best terms for those. If you're concerned about banks financial stability you might limit it to 30,000 per banking group to stay within the guarantee limits.

    If either of you is not a tax payer you could put the funds in their name and register for gross interest if you expect the interest to be less than the personal allowance. Since the allowance is annual, an account paying annually would defer some of the interest into the next tax year and let two years of personal allowance be used.
  • Thanks Jamesd
    We are both tax payers.

    Still not sure which is best, but I will look around
    Taz
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