high interest

S S

smeeagain

Well-Known Member
Joined
13 Sep 2005
Messages
1,487
about to sell my house and deposit the money , £260k approx , i want to know where to put this money please
i,m a dunce about interest rates/access etc , i may complete a sale on another property but not for about a month , maybe not for 3 months so i would like to earn as much as possible in that time
 
smeeagain said:
about to sell my house and deposit the money , £260k approx , i want to know where to put this money please
i,m a dunce about interest rates/access etc , i may complete a sale on another property but not for about a month , maybe not for 3 months so i would like to earn as much as possible in that time
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Bank of hilts
 
You won't get decent interest for such a short time.
Make sure you don't put it just one account.
You are covered for £85000 in any one account if the bank goes tits up so spread it between unlinked banks.
 
You'll get fuck all interest wherever you put it for such a short time. Banks aren't there to make you money, they are there to try and reduce the effect of inflation (although you'd have lost money on deposit against inflation for the last decade).

Don't worry about spreading it across several banks, there literally zero point in doing so as no UK bank will ever go under, certainly in a 3 months time frame. The UK economy is built on the financial services sector and changes post 2008 separated retail and investment banking.

So, in summary, stick it in a saving account and use it as soon as you want it.
 
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