Rainy day fund

bearbear

Registered User
Messages
9
Hi all,

Looking for advice, I am currently saving enough for six months expenses / rainy day fund incase I ever need it.

Obviously I don't want this tied up in anything long term - where would the best place be to put the cash? Prize bonds?

BB
 
If you don't want anything long-term, then your options are:
- Instant access or notice account - will pay zero or close to zero.
- Regular Saver account - KBC will pay 0.55% if you comply with conditions. (Ulster higher, but they may not be around for long).
- State Savings Prize Bonds or State Savings instant access account.

The KBC Extra Regular Saver may net the highest, but small, return.
 
We keep our cash in the Credit Union. It provides double-protection in a way, given that it increases your ability to borrow in an emergency.
 
rates are so low you usually just need to think of an emergency fund as an insurance policy. It's not making you any money but is there just in case you need it.
 
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