Best way to make a good amount of interest on 10k

[thesaint sfc]

I bought my first house recently and was able to negotiate £10k off the price for repairs needed on the house. I don't really need the repairs done at the moment so I've got the money but don't won't need to spend it for at least 2-3 years. My friend has suggested I perhaps look at putting it in a Turkish bank as they've got much better interest rates to us. I'd like a safe place to put it, and make some decent interest on it rather than the £1.73 a month I'm earning on it at the moment.

 

Any suggestions?

[dune]

Buy some shares in HMV and sell them on the eve of the Christmas trading figures being released.

[GenevaSaint]

I bought my first house recently and was able to negotiate £10k off the price for repairs needed on the house. I don't really need the repairs done at the moment so I've got the money but don't won't need to spend it for at least 2-3 years. My friend has suggested I perhaps look at putting it in a Turkish bank as they've got much better interest rates to us. I'd like a safe place to put it, and make some decent interest on it rather than the £1.73 a month I'm earning on it at the moment.

 

Any suggestions?

 

I'd find yourself a good ISA, there are still some about.

 

Define good amount? 3% 5% 7%?

[OttawaSaint]

I'd find yourself a good ISA, there are still some about.

 

Define good amount? 3% 5% 7%?

 

ISA ISA? Let's kick it! dun dun dun de de duh duh....

 

sorry...

[skintsaint]

head down the casino and stick it on red.....

[dune]

I'd find yourself a good ISA, there are still some about.

 

There are 3 options.

 

1. A cash ISA (but tbh the interest rates are not good) and it has a maximum investment of £5100 pa.

2. A Funds ISA with varying degrees of risk (a better choice) and it has a maximum investment of £10200 pa.

3. A DIY ISA where you invest in shares yourself. Maxiumum investment £10200 pa.

 

I would advise option 2, with medium risk.

[GenevaSaint]

There are 3 options.

 

1. A cash ISA (but tbh the interest rates are not good) and it has a maximum investment of £5100 pa.

2. A Funds ISA with varying degrees of risk (a better choice) and it has a maximum investment of £10200 pa.

3. A DIY ISA where you invest in shares yourself. Maxiumum investment £10200 pa.

 

I would advise option 2, with medium risk.

 

Yes, option 2 for a reasonable rate of return with less risk, just gotta hope themarket recovery keeps going as it's done over the last year.

[Special K]

**** it, blow it on whores, booze and drugs. You'll have a much better time.

[Faz]

Premium Savings Bonds. Might get nothing, might get £1m, but at least your capital's safe, and the average rate of return is 1.5%.

[dune]

Premium Savings Bonds. Might get nothing, might get £1m, but at least your capital's safe, and the average rate of return is 1.5%.

 

So in all probability you'll lose money when inflation is applied.

[holepuncture]

Turkey is volatile, steer clear! Interest fluctuates big style...

[ericofarabia]

**** it, blow it on whores, booze and drugs. You'll have a much better time.

 

With a lot more interest involved, than opening your statement envelope !!!

[Michelle]

3 year Post Office Growth Bond, 4% interest.

 

When applying, say you heard in branch, and quote code 2005468. HTH.

[benjii]

Pay it back. You will probably not earn more than you're paying on it.

[Smirking_Saint]

Drugs

[Smirking_Saint]

If you anonomously leave it in a white mini parked in Bursledon tesco by the recycling bins then i will invest it for you, you will recieve 500% of whatever you put in....honest...no questions asked.

[rallyboy]

buy Pompey.

Get a receipt.

And ask for change.

[pedg]

If you are going to go for an ISA I would go via a discount isa place, I use http://moneyworld-ifa.co.uk/ (basically financial companies give an 'IFA' a cut of any product bought through them, places like moneyworld give you at least some of that back so cheaper than actually going direct to the financial company).

 

If you are okay with a bit of risk then invest in Chinese stocks can be quite profitable. Put some in the Fidelity Chinese Special Situations fund in April and its currently up 22% or so.

[eurosaint]

If you are going to go for an ISA I would go via a discount isa place, I use http://moneyworld-ifa.co.uk/ (basically financial companies give an 'IFA' a cut of any product bought through them, places like moneyworld give you at least some of that back so cheaper than actually going direct to the financial company).

 

If you are okay with a bit of risk then invest in Chinese stocks can be quite profitable. Put some in the Fidelity Chinese Special Situations fund in April and its currently up 22% or so.

 

I've done well on this and also have tweeked my other funds to include more Asian stocks !

Can't see Europe performing well in the short/medium term !

[pedg]

I've done well on this and also have tweeked my other funds to include more Asian stocks !

Can't see Europe performing well in the short/medium term !

 

There is always the risk that the Chinese government could just decide to revalue their currency or so something else random that would have a major effect on these stocks so it is still a risky investment compared to those giving a lower, guaranteed return. i.e. don't blame me if you loose money!!

[Wade Garrett]

head down the casino and stick it on red.....

 

Statistically black is the better bet.

[Wade Garrett]

Invest it in pork bellies and frozen concentrated orange juice.

[Special K]

Invest it in pork bellies and frozen concentrated orange juice.

 

Pork bellies? Is that used to make bacon, which you may find in a Bacon, Lettuce and Tomato sandwich?

[Wade Garrett]

Pork bellies? Is that used to make bacon, which you may find in a Bacon, Lettuce and Tomato sandwich?

 

Monkey, monkey?

I'm a ****ing gorilla you clown!