finanical advise / short term intrest ?

[wardy wonder land]

Hello o wise men of NSC,

Remortgaging, releasing funds for a loft conversion

will (hopefully) have 45k kicking around for 2/3 months then phased payments as the work gets down


what bank account is best to hold the money in ? Ideally i would like a daily-intrest-paid and instant access account ??

 

[ditchy]

In all honesty how much do you reckon you would get in interest if you put on deposit ? . If it were me i would put 30k in premium bonds (presuming you havent already) and then draw down as you want. If you get lucky job done , but at worst you havent lost anything.

 

[Set of Tracksuits]

I would suggest using an instant access account with unlimited withdrawals, such as the Santander one below:

http://www.investmentsense.co.uk/free-services/best-buy-savings-accounts/instant-access/

I haven't checked out the details but looks like the best rate.

The interest rate used to calculate the prize fund on premium bonds is currently pretty poor, only 1.5%

http://www.nsandi.com/savings-premium-bonds

But, you never know you might win the big one.