What to do with 80k for one month?

A question about : What to do with 80k for one month?

Hi, was wondering whats the best way to keep 80k for approx one month and maybe get a little interest? Maybe, Short term investment? Premium bonds? Bank account? Under the mattress? Any advice? Thanks

Best answers:

• https://www.thisismoney.co.uk/money/a...et-branch.html
• Stick it in the bank. Not worth considering anything risky.
  You want the highest interest rate with the lowest fuss.
  Obviously an existing bank or savings account would be the least fuss.
  1% interest on that amount is around Ј67 a month before tax (Ј53 after basic rate tax) so use that as the deciding factor as to how much fuss you are prepared to go to.
• Definitely not Premium Bonds. You have to hold them several (three?) months before they're entered in to the prize draw.
• Premium bonds probably aren't the answer. There's a limit (I think that it's just risen from Ј20k to Ј30k) and I don't think that you're entered into the first month's draw anyway (although this may have changed).
  GBP 1 month LIBOR is around 0.5% so you may be able to get that rate which would earn you Ј33-ish before tax.
• Absolutely don't invest.
  Aboslutely no point in Premium Bonds.
  Absolutely rubbish returns wherever you put it, so don't tear your hair out if it's just a month. (And if you do have to move it in and out of an external savings account,you'll lose a few days interest as well, so the difference will be even smaller.
  Do you actually plan to use the money in a month, all of it, or is this just while you work out a longer term plan?
  If there's a chance that some of it might not be needed for a few months, a year, a few years, you could look at splitting it up into higher interest accounts. And it would be worth opening an ISA if you haven't already.
  No point doing this if you will definitely use it in a month thogh.
• I'm guessing that it is house equity to be used on a purchase that should complete in about a month.
• Red (or black)
• I would say black or red (not red or black). Just to keep the thread going.
• If you were my best friend and you trusted me implicitly, me my wife my brother and my sister have Santander 123 accounts. Ј20k in each account will earn pretax Ј50. So Ј200 in total - off to the pub, a couple of rounds on you is enough to cover the tax and the thank yous!
• Derby to beat Fulham.