Looking for short term investment

Hagar

Hagar

Hagar

Soldato
Joined
1 Mar 2010
Posts
14,690
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Tending to be right.
Sold my house, moving into short term rental whilst looking for another. I need to invest 240k for three months typically. Anyone seen any good offers? Needs to be secure.
 
[FnG]magnolia;21175208 said:
Premium bonds and scratch cards.

Come on, this is honestly the best place you could think of to get advice on investing 240 grand?
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No it is not, but there may be people with some good suggestions who are in the trade. I am also taking professional advice.
 
for 3 months - bank account/savings account.

Spread across a few banks for safety. Wouldn't consider anything else for such a short time frame.

Check various website for the best rates and go with that.
 
May as well max out premium bonds for three months and hope for the best. Put the rest in high paying easy access accounts. You may want to ensure you stick to the £85k per institution, or if you can't be bothered, just stick it all in one (you are betting against HBOS going bust here...remember 85%ish is owned by the governemnt). You should get around 3.2% currently with the BM savings account. It does say it pays interest annually, so I'd check with them what the craic is.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest
 
I depends if you want to take any risks with the money? Im assuming no, so you may as well go to the bank and see what they can offer you in terms of short term returns on their savings accounts. Its not worth doing anything else other than the 30k you can put into premium bonds for 3 months.
 
[TW]Fox;21175691 said:
Put 85k in each of the top instant access savings accounts. You'll get about 3%.
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Beat me to it.

OP, if you're not in the position where you can afford any loss then you want something concrete. I think you get around 2.4% net from savings accounts offering 3.1AER. I did this I was in your poisiton.
 
BennyC said:
Beat me to it.

OP, if you're not in the position where you can afford any loss then you want something concrete. I think you get around 2.4% net from savings accounts offering 3.1AER. I did this I was in your poisiton.
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BennyC and [TW]Fox, thanks, this is along the lines of what I was thinking. Would not mind a three month tie in if that was advantageous. Will look around all the deals.
 
@OP - don't bother with premium bonds - just whack it in a few instant access savings accounts - use moneysaving expert etc...
 
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