Where to put €200k for 6 months-ish

[APoster]

Hi, I wasn't sure if this should go in Deposits or Investments, apologies if this is the wrong place.

I'm probably selling a house and will have around €200k hanging around for a few months before buying another in a different EU country. I'm looking for suggestions on where I can park the money for 6 months (ish). I have a few considerations.

1. I may need access early
2. I don't want any risk to capital
3. I want to make sure the money is safe and guaranteed
4. I'd like to maximise any returns (ideally to beat inflation), given the above constraints.

Thank you for your help!

 

[Sarenco]

An instant access deposit account would seem to be your only realistic option.

The interest rate will be lousy and you are very unlikely to beat inflation. But that’s the price for having instant access, with no risk to capital.

The proceeds of a house sale over €100k (per individual) will be guaranteed for a period of six months as a “temporary high balance”.

 

[losttheplot]

There are some demand deposit accounts on Raisin with reasonable rates. I don't think you get protection for the temporary high balance, but you could open a few accounts and split the money across them.

 

[Freelance]

Your fourth criteria is a tall order given that you will likely pay DIRT on any income - that said with inflation allegedly between 2% and 2.5% at present you shouldn't fare too badly.

Open an N26 Metal a/c (cost €162.20 for 12 months) and then open a savings account and you'll get 4% (Variable). Lodge €100k to this. This will meet all four of your criteria (but see note above r criteria 4)

Put the balance in one of the following:

• Raisin in either a demand a/c (3% variable) or a six month account 3.5% - realistically will you need all of the money within 6 months ?
• Some other bank deposit with the best return you can get and DGS cover of €100k (see best buys)
• Prize bonds would offer a return of .8% approx (no DIRT) with the upside of a possible large prize, withdrawals take a week approx. Note however that they must be held for 90 days (again is this likely to be a real issue) ?