Short term investment for £120k
 

Ive just been paid out this money and at the momement have got it in my current account. I will be using most of it in about 6 months or so as I plan to sell my house to buy a bigger one. Is there any safe short term investment for it that would make me more money than my account?

Why not try premium bonds, you can have up to 30k per person in your household, you then only need 8 days notice to get you money back.

I dont think you earn interest with premium bonds, only the chance of winning some cash, so I could end up worse off than by leaving it in the bank. What I am looking for is better way to increase my money.

The only way you get mony back with premium bonds is if you win. You have to have the money in for 3 months before you can win anything.

Your best bet would probably be a high interest account which pays it monthly.
Bex

Chaos will look after it for you.

:eek: :eeK: hi-speed getaway :D

www.ING.co.uk

That a safe bet, Ive got a lump with them and its easy to set up. Pay in and get paid !

Take a risk. Go for shares.

Chip.

vegas and put it on black ;)

Can I suggest you open a Treasury Deposit account with your bank.
Basically they will take the money off you for a pre-defined period (usually 1 month at a time) and guarantee a high(ish) interest payment (3.42% currently).
I am currently doing 100K a month and getting about £285/month return.
It's better than nothing and totally safe. You might be able to get a good bit more if you can tie it up for 6 months solid.

as wish says, i think ING are currently the highest payers for instant access, at 4.5%. taxable, though, so after gordon's had his wicked way you are doing well to beat inflation. :(

<psst: secret - the govt. wants everyone to be in debt>

Get your bank to place in on the money markets. You can usually choose the period and they will pay a very competative rate.

Chris

arent halifax doing something at 6%?

The Halifax thing is a regular saver account - you can't put in lump sums and I think you have to make 24 consecutive equal monthly payments to get the good rate.

As others have said, ING is your safest, trouble-free bet. You can open it for a quid and get your money in or out within a few days. They are also a very large, safe bank.

yeah, the halifax thing is limited to 12 monthly payments of up to £250, so no-one's gonna get mega rich from that one.

I think I will have a look at ING over a 6 month term.

Thanks for the replies.

Blow it on coke and whores :D

how exactly does this work?

Now why didnt I think of that before ;)