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Maximising interest with flexibility

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captaint | 04 Feb 2015, 01:48 PM Agree 0
Hi All,

We're expecting our second child so are now selling our home to upsize.

We haven't bought yet so may rent for anywhere between 2 – 12 months while we look to purchase. We will have a large amount of money (approx. $700,000) to invest in the mean time from the sale of our house.

As a result we're looking to maximise the interest on this money (to cover as much rent as possible) but need the flexibility to draw on it once we find the ideal home.

Is a high interest online bank account the best option for this short period? If it is, are there any you'd recommend?

Thanks in advance!
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