Advice for savers?

[Scraggles]

putting some cash into natwest cash isa plus, seems the better deal and have an old account with them that made it easier. just need to visit a branch with chequebook, my current account holder is offering me 0.5% isa and they offering 3.51%

[Broken Hero]

I havent subscribed to an ISA this tax year, and I know my bank (HSBC) will give me 3.1% fixed for the next 12 months if i subscribe the full £3600. I have about 3 times that amount, but not in an existing ISA.I cant tie the money up for longer than a year so bonds, stocks & shares ISAs and longer term investments are out of the question.
I keep getting clients telling me about better fixed rate ISAs with other banks but have been looking online and havent seen anything.
Does anyone know of any other product out there currently that can beat 3.1% for somebody in my situation?

[edc]

Plenty of Cash ISAs paying a fraction more than 3.1% - Barclays, Natwest, RBS ... If you have 3 times £3600, then max your limit before 5th April then do exactly the same again straight after this date. Halifax have notice accounts paying from 2.2% for 3 months, more if you tie in longer. This is a guaranteed amount and not a 'bonus'.

[SS HSV]

I find this a strange topic for a site devoted to risk taking petrol heads that invest huge amounts in cars which they know will bring massive overheads and little financial rewards.

I would be looking to spend the money on a business opportunity in which I could return loads given the current market. Even buying undervalued classic cars or big saloons at the moment should provide a decent return due to the panic market which will clear and indeed it has started already.

This advice sponsered by "Grow a Pair" business school.

Yep flamesuit is adorned

[Colonial]

I currently have some money locked away at 7.75% with no fees and access at any time.

Score 1 for us antipodeans.

[kenny Chim 4]

Colonial said:

I currently have some money locked away at 7.75% with no fees and access at any time.

Score 1 for us antipodeans.

Bastid! The best I'm getting is 3.61 on Barclays Golden ISA -maxed until next week when I'll max again from the lump in ING.

[Cpn Jack Spanner]

I buy and sell a lot, but most of it is fast turnover modern stuff. In the past I've put a lot of money in buying several thousand pieces of original art. All of it is worth between 5 and 30 times what I paid for it.

Can't do that now of course, the damn artists have got smart - with the Internet and eBay. Still, got enough to last me a few decades.

If you want a mini business, buy old German cars and sell them a piece at a time on eBay to mainland Europe. Easy 500 to 1000% profit on everything you sell. I'd do it myself if I didn't have enough to do, and didn't mind getting my hands dirty, which I do, so I wont.

I wouldn't put the money in any investment schemes, all that lot is bling their office, pay themselves huge salaries for their brilliance, and what's left invest in a handful of shares hopeing that enough come it to finance their existance. If you do that, you pretty much deserve to lose everything, duh!

[David87M3]

I find this kind of thread quite funny. People boast of high intrest rates on saving but dont reveal the source for others to benefit. Whats the reason?

[anonymous-user]

Buy a Gallardo LP-560 Spyder. You know it makes sense!!

[FarleyRusk]

As a Dutch resident - I have Euros on 13month fixed deposit @ 5.25% with 8 months to go and on a regular savings account @ 3.6% currently (fallen from 4.60% 6 months ago).

Fixed deposit rate now only 3.00%, so being cash-rich won't be delivering such good returns anymore soon. Project Porsche will be coming soon then.

[Skipppy]

I have just opened an E-ISA with natwest @ between 3.25 and 3.5% variable. Halifax was giving me 0.1%. I may also consolidate some cash i have in a national savings certificate as that is also at 0.1%.

[Jasandjules]

Maxf said:

Jasandjules said:

Bonds? Gilts? Guaranteed return.

That means locking it away though doesn't it? Would it be possible to buy a mixed basket of different bonds (ie a % US, UK, Chinese - whatever)? Are they easily tradable?

Yes it does. But then with little interest in a bank account with the money locked away you are in the same boat but with interest being paid. Yes, it's possible to buy different bonds. Not sure if individual investors can mind, I was merchant banking not the private client side. But then if you have enough money, most things are possible...... And tradable - yes, huge markets in bonds, gilts, bunds etc.. and even private companies like GMAC...

[Trommel]

Cpn Jack Spanner said:

If you want a mini business, buy old German cars and sell them a piece at a time on eBay to mainland Europe. Easy 500 to 1000% profit on everything you sell.

20x profit selling old RHD cars into the LHD market they cam from and already full of them?

I could perhaps see a small market for LHD stuff like E30 M3s, Integrales etc. but only because of Sterling's current situation.

Or can you really sell £1k C180s back to the Germans for £20k?

Edit - do you mean breaking them?

Edited by Trommel on Tuesday 31st March 11:14

[davido140]

Trommel said:

Cpn Jack Spanner said:

If you want a mini business, buy old German cars and sell them a piece at a time on eBay to mainland Europe. Easy 500 to 1000% profit on everything you sell.

20x profit selling old RHD cars into the LHD market they cam from and already full of them?

I could perhaps see a small market for LHD stuff like E30 M3s, Integrales etc. but only because of Sterling's current situation.

Or can you really sell £1k C180s back to the Germans for £20k?

Edit - do you mean breaking them?

Edited by Trommel on Tuesday 31st March 11:14

I think he does mean breaking them, and I also think he means 50-100% profit margin. I think 500-1000 is a little optimistic.

Myself and a friend keep talking about doing this ourselves, to be honest though its a massive pain in the arse and unless you have LOTS of space at home it will completely take over your house!

[BlueEyedBoy]

Wait till RBS drop below 19p again, buy a shed load of shares, and hopefully in about 5 days, you will have got back about 5 years return elsewhere, at the same time, you could lose everything

Edited by BlueEyedBoy on Tuesday 31st March 11:55

[Mr POD]

black1 said:

have you not looked offshore ?

There's nothing but water !!!

[Jasandjules]

BlueEyedBoy said:

Wait till RBS drop below 19p again, buy a shed load of shares, and hopefully in about 5 days, you will have got back about 5 years return elsewhere, at the same time, you could lose everything

Edited by BlueEyedBoy on Tuesday 31st March 11:55

Well, that's the world of risk v return.

Can just go buy a load of AIM shares...

[jeff m]

At present the Dollar and the Pound are competing for "least desirable currency".

Looks like the Pound may win

25% in a Global Equity fund would make sense for a UK resident.