FREE again Paris is set for a bumper pay day with the sale of the family firm Hilton – and MoneyExpert.com is telling her where to stick it.
Following the news that private equity firm, Blackstone, is to buy Hilton Hotels for $26billion, heir to the Hilton throne, Paris, will pocket a proportion of the family’s £1.3billion cash windfall once the deal goes through.
Paris’ grandfather, Conrad, owns five per cent of the company shares and a charitable trust set up by the Hilton family owns a further five per cent.
But with Paris’s reputation for splashing the cash and late night partying, she’ll need quick access to her money if she’s to make the most of her latest windfall.
MoneyExpert.com investigates where Paris could save her pennies and what she’d get from different options:
Instant access savings account
Paris could get 5.83 per cent with Citibank’s Flexible Saver account. That means with a balance of £1.3billion she’d be making over £75million in interest every year – or £8,652 an hour!
Popular Savings Accounts
|Citibank -Flexible Saver Issue 3||5.83%|
|Halifax -Web Saver (Without cash card)||5.05%|
|ING Direct -Savings Account||5.00%|
If Paris wants ready access to her millions in cash and overdraft facilities, the best bet is a high-interest current account.
Again, Paris could do worse than Coventry’s Coventry First account, which pays 6.1 per cent interest on credit balances over £50,000. For something a little more accessible, Alliance & Leicester’s Premier Direct current account pays 6.5 per cent and is available to all.
Popular Current Accounts
|Company||Typical APR (fixed)|
|Alliance & Leicester – Premier Direct Current Account||6.50% from £1|
|Halifax – Ultimate Reward Current Account||6.17% from £1|
|Bank of Scotland – Ultimate Reward Current Account||6.17% from £1|
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