Your preferred online high-interest savings account?

[tyred]

Fast cars, champagne and fast women

 

[Pale Rider]

Invest in precious and rare metals.

Titanium?

 

[ColinJ]

to the OP and indeed anyone else, do you have a mortgage? If so, paying off chunks gives you 2.5 to 3% straight off.

My late best mate had thousands of pounds in the bank earning very little interest when he still had a mortgage on which he was paying about 4% interest. I tried to persuade him to pay off the mortgage but he insisted that he wanted to continue like that in case he 'needed cash in a hurry'.

 

[Shut Up Legs]

Buy silver. Not abstract bonds etc. but real silver. Bury it in the woods. Buy a shotgun, plenty of dried food, and guard it. You will thank me for this independent financial advice soon.

So we're about to be overtaken by werewolves? So much for the so-called Zombie Apocalypse.

 

[Shut Up Legs]

As I mentioned, once the savings balance on the particular account I mentioned above tops a certain amount (about a year away), the interest goes from the variable rate of between 2.5 and 3% *** down to 0.01% (basically stuff-all), so I need to find an alternative, because once that happens there's no difference between having it in a bank and under my mattress (except for the latter being less secure, I guess).

*** very variable, and steadily dropping.

 

[oldfatfool]

How old are you? If over 55 then bung it in a pension. Instant 20% from hmrc, a half decent provider should give returns of 5% +. New pension rules mean you could draw down cash instantly if required 25 % tax free rest at marginal rate, but still should be quids in due to initial tax rebate. Of course investment can go down but on a managed fund you would have to be unlucky to drop the 20% you had been given. Just an idea speak to a financial advisor

 

[marzjennings]

Stocks and bonds, 9.7% this year so far, minus paying 1% fees for managing account.

Or invest in stocks that pay dividends...

Vedanta Resources (VED)
Yield: 8.94%
Industry: Industrial Metals & Mining

Brown Group (BWNG)
Yield: 8.02%
Industry: Specialty Retail

Galliford Try (GFRD)
Yield: 7.38%
Industry: Residential Construction

TalkTalk Telecom (TALK)
Yield: 7.33%
Industry: Telecom Services

HSBC (HSBA)
Yield: 7.3%
Industry: Banks – Global

Carillion (CLLN)
Yield: 7.23%
Industry: Engineering & Construction

Berkeley Group (BKG)
Yield: 7.09%
Industry: Residential Construction

Legal & General Group (LGEN)
Yield: 7.01%
Industry: Insurance – Life

Persimmon (PSN)
Yield: 6.85%
Industry: Residential Construction

Phoenix Group (PHNX)
Yield: 6.76%
Industry: Insurance Life

Standard Life (SL.)
Yield: 6.39%
Industry: Insurance – Life

Aberdeen Asset Management (ADN)
Yield: 6.12%
Industry: Asset Management

Royal Dutch Shell (RDSB)
Yield: 6.05%
Industry: Oil & Gas Integrated

BP (BP.)
Yield: 6.03%
Industry: Oil & Gas Integrated

Countrywide (CWD)
Yield: 6.03%
Industry: Real Estate Services

Amec Foster Wheeler (AMFW)
Yield: 6.01%
Industry: Oil & Gas Equipment Services

Debenhams (DEB)
Yield: 5.99%
Industry: Department Stores

The Restaurant Group (RTN)
Yield: 5.86%
Industry: Restaurants

Rio Tinto (RIO)
Yield: 5.81%
Industry: Industrial Metals & Mining

Cobham (COB)
Yield: 5.75%
Industry: Aerospace & Defense

 

[annedonnelly]

Check out http://www.moneysavingexpert.com/ for advice on this sort of thing. You can sign up for weekly emails and get updates when new deals appear.

 

[srw]

Stocks and bonds, 9.7% this year so far, minus paying 1% fees for managing account.

Or invest in stocks that pay dividends...

Vedanta Resources (VED)
Yield: 8.94%
Industry: Industrial Metals & Mining

Brown Group (BWNG)
Yield: 8.02%
Industry: Specialty Retail

Galliford Try (GFRD)
Yield: 7.38%
Industry: Residential Construction

TalkTalk Telecom (TALK)
Yield: 7.33%
Industry: Telecom Services

HSBC (HSBA)
Yield: 7.3%
Industry: Banks – Global

Carillion (CLLN)
Yield: 7.23%
Industry: Engineering & Construction

Berkeley Group (BKG)
Yield: 7.09%
Industry: Residential Construction

Legal & General Group (LGEN)
Yield: 7.01%
Industry: Insurance – Life

Persimmon (PSN)
Yield: 6.85%
Industry: Residential Construction

Phoenix Group (PHNX)
Yield: 6.76%
Industry: Insurance Life

Standard Life (SL.)
Yield: 6.39%
Industry: Insurance – Life

Aberdeen Asset Management (ADN)
Yield: 6.12%
Industry: Asset Management

Royal Dutch Shell (RDSB)
Yield: 6.05%
Industry: Oil & Gas Integrated

BP (BP.)
Yield: 6.03%
Industry: Oil & Gas Integrated

Countrywide (CWD)
Yield: 6.03%
Industry: Real Estate Services

Amec Foster Wheeler (AMFW)
Yield: 6.01%
Industry: Oil & Gas Equipment Services

Debenhams (DEB)
Yield: 5.99%
Industry: Department Stores

The Restaurant Group (RTN)
Yield: 5.86%
Industry: Restaurants

Rio Tinto (RIO)
Yield: 5.81%
Industry: Industrial Metals & Mining

Cobham (COB)
Yield: 5.75%
Industry: Aerospace & Defense

On the other, the value of shares can go up as well as down (and scanning down your list some of the sectors are in for a rocky ride), and the value of the UK stock market has gone up a lot in recent months, so you'd be buying in to what might be an overvalued market.

 

[screenman]

My suggestion is ... THIS!

I have won four lots of £25 so far this year.

My two have never come up in nearly 50 years. I am waiting though.

 

[Brandane]

Fast cars, champagne and fast women

Too right. No point in saving money these days when it is losing value in real terms. Blow the feckin' lot, and don't work too hard trying to accumulate it. You only live once; and if you live too long then HM Government will just take it back in the form of payment for your care when you're sitting watching ITV4, dribbling from both ends in some residential "home". Enjoy it while you can, or sign everything over to your children - but you'll need to do it at least 15 years (IIRC) before you end up in that home!

 

[Profpointy]

Fast cars, champagne and fast women

..... but squandered the rest !

 

[swee'pea99]

when you're sitting watching ITV4, dribbling from both ends in some residential "home".

Nice to have something to look forward to...

 

[marzjennings]

On the other, the value of shares can go up as well as down (and scanning down your list some of the sectors are in for a rocky ride), and the value of the UK stock market has gone up a lot in recent months, so you'd be buying in to what might be an overvalued market.

Oh, I don't personally recommend any of those dividend stocks as I've not looked into them, just examples of the types of dividends available in the UK. I'm just saying I get a better rate of return from directly investing in the stock market than I would from any bank. Even with all the ups and downs.

 

[biggs682]

I'm shopping around for a better one, as the one I started a few years ago has had increasingly lower interest rates over the last 6 months, plus I found that the interest rate drops to zero once it tops a certain amount (which it will do in a year or so, I think).
Any suggestions? My main criteria are:

• high interest
• online access
• trustworthy bank

Obviously, ones you recommend may be from the UK and I may not be able to use them, but at least it may give me some ideas.

Regards & thanks,

--- Victor.

almost better to leave it under the mattress or invest it in retro road bikes