interest on £100,000

[pinkcowprint]

if i put say £90,000-£100,000,into a high interest account,what kind of interest roughly would i be looking at recieving?thanks

[Rollo]

You might find this helpful.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

[Whoever]

If you put £100,000 in a fixed rate account at 4% interest you would ear £4000 before tax. But don't forget that the most you can put in any one savings account under the Government's compensation scheme is £50,000 (or £100,000 for a joint account), so if you're lucky enough to have that kind of money, spread it around to be on the safe side.

[pinkcowprint]

thanks for the link,im thinking of selling my house, profit will be around that,didnt know wether to save it and rent for a year and find a house,was just wondering if financially it would be a good idea.thanks

[rov1200]

If you want instant access to your money most high street banks pay less than 1%. If you want more than 3% it may pay to take out a bond where the money cannot be touched until the bond expires. Depending on how long you want the bond to run for, it can be 6 months, 1 year, 18 months, 2 years, 3 years and 5 years there is an increasing interest payable. Some banks will alow monthly interest though.

[ChesterInvestor]

Currently, you with a sum of this amount you could potentially get a better rate using a money market account. Many UK banks offer these, and you'd be able to enquire in a branch. It could be an option until you decide how to invest, and give a better rate than standard savings account which currently only pay pitiful rates. You'd also only be able to get up to £20k in an ISA anyway.

For more ways to invest a sum of this amount, I found this helpful, but will be going to a financial advisor as first port of call. https://www.best-savings-rate.co.uk/news/best-way-invest-100k/