How to use £10,000 for best return on investment

movilogo

I have around £10,000 in bank's savings account (getting 4.5% APR interest).
Is there any way to get better return on investment?

Please note that I'm not a permanent resident of UK. So, I won't be able to invest on long term (>1 year) basis!

Thanx for help. :rolleyes:

dunstonh

Investing for 12 months to get potentially better returns involves risk. Risk is increased, the shorter the term. So, 12 months should be considered high risk. If you are not high risk in nature, then you should stick with savings accounts.

dreamypuma

I'd be tempted to open a HiSave account at 5.15% AER.

mad

Yes you need to go for an instant access savings account, there are many and you can consult the best buy tables in newspapers or look on the site here

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1098730527,15721,

Alliance and Leicester (Was 5.15%) on line saver was good but I think they may have just taken away the bonus for new customers. The others that come to mind are ICICI 5.15% as mentioned above (Please note though that people have had problems with Customer services) and The Coventry Building Society at 5.1%. one other I have noticed this week is Northern rock at 5.01%

Hope that helps