€60K to invest for c. 1 month - options?

H

Hippykitten

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Want to invest 60k with the option to withdraw within 1 month as I am househunting. Irish Nationwide 5% looks like an attractive option-any advice on whether this would be a good choice? clueless poster
 
Re: Lump Sum Investment-Options

INBS FlexiSaver 21 requires 21 days notice for withdrawals. By withdraw within one month do you mean that c. one month is your total investment term or perhaps you mean that you can put up with up to c. 30 days notice? If it's the latter then this INBS account would probably be suitable. If you want immediate/on demand access (possibly allowing a day or two for money to transfer to your main current account) then perhaps €10K in Rabo @ 5% gross CAR and the rest in Northern Rock @ 4.5% gross CAR (choose annual payment interest even if you will withdraw before a year is up as the rate is 0.25% higher than the monthly option and you do not lose out by withdrawing before 12 months is up) might be the best option? If you do this then you stand to earn c. €230 gross or €184 net of DIRT in interest in a month. With INBS (the lot at 5%) you would earn c. €250 gross or €200 net in one month. See the Financial Best Buys forum for details of latest deposit rates on offer.
 
I went into my local branch (AIB) and told them I was househunting (which I was) and had a large sum of money that I wanted to deposit and get some interest on but wanted it on demand. They gave me their 3 month demand current account but set it up so I could withdraw with no notice... so it's worth asking. Admittedly it was for alot more than 60k but it's worth a shot.
 
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