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Where to keep a lump sum?
Posted: Thu Mar 09, 2017 8:20 am
Hello! I have a lump sum of Â£74k from the sale of a business. I need to put it somewhere for several months until I decide what to do. Where can I keep it so I earn reasonable interest but can also get hold of it? I won't need it for at least 10months - 1 year.
Posted: Thu Mar 09, 2017 10:38 pm
It depends what you consider "reasonable interest"
Unfortunately with interest rates so low you aren't going to get anything reasonable IMO and certainly not on the instant access that it seems you require. Fixed rate bonds offer a tiny bit better rates but you would have no access to it for at least a year.
Posted: Fri Mar 10, 2017 5:41 am
Posted: Fri Mar 10, 2017 2:57 pm
EVERYONE is different... I would put the maximum into Premium Bonds - you MIGHT win :-) And the rest into NS&I - simple and easy.