Where Should I Put $100k For 6 Months?

[questions]

I have sold my house and am in the process of building a new one. I have $100,000. that will need to sit for 6 months until I need the funds for the new mortgage. Can you recommend what to do with it for that short a time? Thanks....

[sweeps]

Short-term CD or money market account, paying at least 5%.

[scfr]

Short-term CD or money market account, paying at least 5%.

Ditto ... Be sure to get the Jumbo CD rates ($100,000 or more).

[greedy4chips]

See my post looking for venture capital? just kidding.

Everbank is offering 6.01% checking account for the first 3 months for new customers. After the 3 months are up the rate drops to its current rate at that time, currently 5.01% or 5.51% over the 6 months. Best of all if you need it earlier you have instant access.

So you barely outperform an Eloan Jumbo CD which is paying 5.41%.

All numbers listed are APY rates.

You could get fancy and do the Everbank deal for 3 months then a 3 month jumbo CD to maximize your return or find a similar offer to Everbanks. They may offer you another option if you decide to keep 100k there for more than 3 months too.

[m3racer]

Be careful about Everbank....there are limits to the amount you can withdraw or transfer per month.