Where to go with 40K over 6-9 months

[PintSized]

I have 40k to put away for 6-9 months and I was hoping for some advice on what is the best course of action to get the most out of it. Should i just put it on deposit or by taking a little risk could i do better from it. I am open to risk but not too much. I know 6-9 months is not a long time and ideally at the end of it I would still like to have my 40k but also to make a bit on it too. Thanks all

 

[Lightning]

If you choose to go with a cash deposit, you have 2 main options.

Links to the best buys are below.

Personally, I would put the money on demand with Nationwide UK at 3.55%.

1) On Demand

See http://www.askaboutmoney.com/showthread.php?t=102329

1. Best Lump Sum Personal Deposits

Best for amounts from €10,000 to €2 million
Nationwide UK: Easy Access (Discuss)
3.55% on €2,000 minimum to €2m maximum.
NB: Interest is reduced if more than 6 withdrawals are made a year (Apr-Mar).

2) Term Deposit

See http://www.askaboutmoney.com/showthread.php?t=101813

Best Buys - Highest Term Deposit Rates

6 Months - Investec - 3.25%

PTSB have the best 9 month term deposit rate at 3.50%.

 

[PintSized]

Thanks fungus. Nationwide UK are pretty new to ireland right? Would my 41K be safe with them, like is it guaranteed?

I haven't ever had an on demand account before so not sure how it works.

I deffo wont need to touch the money for 6 months so at 3.55% if i was to withdraw the money then am i right in saying i would end up with:

41000 at 3.55% for 6 months minus 25% (DIRT) leaves me with 41,546

41000 at 3.55% for 9 months minus 25% (DIRT) leaves me with 41,819

41000 at 3.55% for 12 months minus 25% (DIRT) leaves me with 42,092

Basically can I leave the money there for as long as I need to and will the 3.55% will be applied right up to the day i take it out?

Then when i am ready to take it out is it easy to get your money back?

 

[Lightning]

Thanks fungus. Nationwide UK are pretty new to ireland right? Would my 41K be safe with them, like is it guaranteed?

50,000 GBP (about 60,000 EUR) is guaranteed. It's safe.

Basically can I leave the money there for as long as I need to and will the 3.55% will be applied right up to the day i take it out?

Nationwide UK could drop or raise their rate inside the next 12 months. The rate could change.

Then when i am ready to take it out is it easy to get your money back?

Yes, very easy.