Quick answer
What are the safest short-term homes for UK inheritance money?
- 1
Move funds out of a low-interest current account within days.
- 2
Place up to £85,000 in any single FSCS-protected easy-access savings account.
- 3
Use NS&I products (HM Treasury-backed) for amounts above the FSCS limit.
- 4
Use a savings platform to spread larger sums across multiple licences.
- 5
Avoid long fixed-term bonds until you have a clear plan.
Easy-access savings accounts
The default choice. Capital is FSCS-protected up to £85,000 per person per banking licence, accessible within days, and rates are usually competitive at the top of the best-buy tables.
Cash ISAs
Useful if you haven't used your £20,000 ISA allowance this tax year. Interest is tax-free within the wrapper, and FSCS protection still applies.
Just received an inheritance and unsure where to park it?
A 60-second planner shows the considerations and common next steps for UK beneficiaries.
See what people in your situation usually doNS&I — for larger sums
NS&I (Premium Bonds, Income Bonds, Direct Saver) carries 100% HM Treasury backing with no upper limit. Ideal short-term home for sums well above the FSCS threshold.
Savings platforms
Hargreaves Lansdown Active Savings, Raisin and Flagstone let you spread money across multiple FSCS-protected providers from one login — useful for £100k+ balances.
What to avoid initially
- Locking large sums into long fixed-term bonds before clarifying goals
- Concentrating everything at one banking group (FSCS counts by licence, not brand)
- Investing in volatile assets before deciding on time horizon
Educational · UK-focused
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See what people in your situation usually doWhere to read next
For longer-term parking, see best low-risk options; for the move to investing, see how to build an investment plan; or the full complete guide.
Published · Last reviewed