Best way to pay one year student fee

[janfox7]

Our son has been accepted on a GTP teacher training course. His salary will be paid for by his training school. His tuition fee will be paid for by the Bank of Mum and Dad!
We have the necessary £4,500 but wonder if it would be best to put it into a high interest account and earn a bit for year. The fee will need to be paid in three instalments over the academic year and so will require access three times.
Any suggestions? Any good accounts? We are with LloydsTSB and have accounts with Santander.

[factor-fiction]

Does he get a loan for his tuition fees or does he (you) need to pay them this year?
The annual interest on a reducing balance starting at £4500 for one year will be less than £100 before tax, even in the best account. If you pay tax it will be around £50. By shopping around you may get accounts that pay 2.8% - 3.2% but the difference in interest will be very small

[Hastler]

Hi factor30

I think £100 is worth having but I know you are rich.

[factor-fiction]

I didn't realise I'd said or implied £100 wasn't worth having. I'll re-read it and see

[CaelinCarter]

I think you should pay three installment in a year.