Best places to receive monthly interest on large sums of money?

[Wicca]

Hello,

I am just wondering, which would be the best place to receive monthly interest on large sums of money? Unlike a normal direct debit account (i.e. 123 Santander), maybe for a business account which has no cap? I have over £100,000 and receive regular money coming in and just need to know which the best account would be.

Thank you.

Harry.

 

[David Reinhardt]

This feels like a question you should be asking your bank. Ask them for rates on money market accounts as these tend to be higher interest. In return, they'll often ask for fixed terms or longer notice of withdrawal.

The banking comparison sites I found tended to have retail interest rates (currently between 0.5% and 1.5%) rather than anything more attractive. I did look at one or two bank websites but for money market rates you need to be speaking to them directly.

 

[webgeek]

You're getting 0.5% to 1.5% on savings accounts at most institutions. Ick.

Some ISA's are running 2% to 3%.

3 year bonds are running 2% to 3.5%.

Even secured government bonds are running 2% to 3%.

Then again, you can't shake a stick without hitting a bond fund paying 30%+
http://www.iii.co.uk/articles/80782/rated-bond-funds-top-11-uk-investments

 

[The Byre]

Off shore.

 

[webgeek]

Or buy 10 houses in an older USA neighbourhood, collect 400 per month rent each and enjoy your 30%+ ROI. Use the 10 to secure 10 more and dial that up to 60%.

 

[crelding]

Have a look into Funding Circle. Roughly 8% return.

 

[Nochexman]

...which would be the best place to receive monthly interest on large sums of money? Unlike a normal direct debit account (i.e. 123 Santander), maybe for a business account which has no cap? I have over £100,000 and receive regular money coming in and just need to know which the best account would be....

Hi Harry, how long can you afford to invest this money for?

when do you need it back (if at all)?

 

[MikeJ]

If he doesn't need it back, I'll pay 50% per year for 12 months.

 

[TylerJay]

Have you thought about the stock market... There is a number of stocks now looking very very profitable so it might be worth looking in that direction.

Or at least have a look at diversifying the funds you have.