Economy

10 Alternatives To Low Interest Deposits

What are the 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.

What are alternative to low interest deposits?

The following are the alternatives available if you want to earn a little more interest from your deposit.

1. Bonds

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.

2. Multi-Asset Funds

Choose a multi-asset fund. An example is the Charles Stanley’s Personal Portfolio Service.

3. Property Investment

Invest in actual property, for example real estate.

4. Down Debts

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.

5. Current Accounts

Use your current account to avoid extra bank charges.

6. Absolute Return Funds

Choose an absolute return fund like Janus Henderson UK Absolute Return Fund.

7. Use investment Platforms

Do it Yourself via investment platform providers e.g. Hargreaves Lansdown.

8. Government Bonds

Invest in government bonds.

9. Fixed Rate Bonds

Choose a fixed rate bond. An example is Zenith Bank (UK) Limited Three Year Fixed Term Deposit.

10. Shares from Big Companies

Buy shares from big companies like Legal & General.

Our advertising partners offer repayment duration of 12 to 120 months. I.e. 8000 in 48 monthly payments to the 4.50% rate. amount tot. due: 8,756.64; APR max: 10:50%

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