10 Alternatives To Low Interest Deposits
In this article I will discuss alternatives you should consider when you want to invest your money, and more specifically, when you want to avoid the disadvantage of low interests. This has become in a way quite crucial for all even with the shared expectation of higher interests.
There are considerations you might need to keep in mind before you invest, for example, evaluate the probability of coming up with losses, ascertain charges you need to avoid in your investment, and look into the best investment option unique to your needs.
The following are the alternatives available if you want to earn a little more interest from your deposit.
- This is an option for consideration but it is dependent on your tolerance as it may take some time to make profit. An example is stock markets.
- Choose a multi-asset fund. An example is the Charles Stanley’s Personal Portfolio Service.
- Invest in actual property, for example real estate.
- Pay down debts. When you overpay on a debt, you, in return, cut down on interest as well as time you’d have needed to finish repaying.
- Use your current account to avoid extra bank charges.
- Choose an absolute return fund like Janus Henderson UK Absolute Return Fund.
- Do it Yourself via investment platform providers e.g. Hargreaves Lansdown.
- Invest in government bonds.
- Choose a fixed rate bond. An example is Zenith Bank (UK) Limited Three Year Fixed Term Deposit.
- Buy shares from big companies like Legal & General.