Make money on loans

thecotta

Hi, first post and i am here because of one simple question:

Can i make money from borrowing from a bank using a savings account?

Example:

Borrow 10k from one of many banks, invest 5k into a savings account at 3.5% interest for 24 months, adding £200 into that savings account every month with the other 5k?

Anyone got any ideas??

Thanks..

Mr.c

ILW

Are you being serious?

immoral_angeluk

The interest you'll be paying on the loan will be more than the savings, therefore it would never work.

epsilondraconis

Have a read of this...

http://www.stoozing.com/g_quickstooz.html

This is probably your best opportunity; however it's not as good a money making scheme as it once was.

masterlumps

im sure there are much easier methods of making money

Apples2

thecotta wrote: »

Borrow 10k from one of many banks, invest 5k into a savings account at 3.5% interest for 24 months, adding £200 into that savings account every month with the other 5k?

Hairbrained idea aside - Why not put the whole £10K in savings in one go rather than drip feed the money in??

Not that it would work anyway but even the misguided idea on it's own is madness.


Where do you think you are going to get a loan with less than 3.5% interest??

thecotta

ok ok.. how about an investment offering a fixed rate of interestment over 7.8% (the interest on that particular loan)?? thoughts?

corbyboy

thecotta wrote: »

ok ok.. how about an investment offering a fixed rate of interestment over 7.8% (the interest on that particular loan)?? thoughts?

Do you really think you can find an investment offering such rates?

epsilondraconis

Investment = Risk.

Only you can decide on that course of action...

stebiz

I'm assuming you've been to a christening or some other family gathering, and the alcohol is clouding your judgement tonight;)

ses6jwg

The most sensible advice would be to do it, and to do it quickly before others come up with the idea.