100,000 to invest

emmage

Registered User
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60
Hi,
We have 100,000 to invest for the short term. We will need it in the next 3 months to pay for a new kitchen and some building work. However in the meantime, we don't know what account we should put it in to earn the best interest.

We currently bank with AIB.
Many thanks
E
 
See the Financial Best Buys and www.itsyourmoney.ie lists of the best deposit accounts/rates on offer and the many existing threads on mixing and matching a number of these to maximise returns. Northern Rock pay 5% gross CAR on demand deposits over €1K and they are 100% guaranteed. You could wring a bit more interest out of your money by opening a Halifax Flexisaver and FA eSavings account for €10K and less than €15K respectively and putting the rest in NR. It may even be possible to drip feed one or more c. 7/8% regular saver accounts (with no restrictions on access) for a few months to get a bit more.
 
Must be some 'New Kitchen' and 'Some Building Work' !!!! Hve you asked your Bank what their best rate is for 3 months ?? And likewise with other Banks if you feel comfortable with them. Otherwise try Prize Bond which are Government backed and cashable more or less immediately.
 
Otherwise try Prize Bond which are Government backed and cashable more or less immediately.
Personally I would stick with deposits. At least you are guaranteed to earn some interest. You are not guaranteed to win anything with Prize Bonds although you could get lucky. And you cannot cash them in until 3 months have elapsed since purchase so they're not quite cashable immediately.
 
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