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Skeekwarton
Posts: 26 Forumite
OK folks, a hand clapping smiley & thumbs up for the best idea.
I have £5000 in the bank.
I have a car loan with 13 months left @ 367.50 per month - 4777.5 ( total payable )
Current settlement figure is 4622.28 - a pathetic 155.22 interest rebate.
I've looked at the savings account route with ICICI @ 6.41% i.e. stick the cash in the savings account, transfer the monthly payment to my current account to cover the car loan and let the interest mount up, This would net me a whopping £40 above the settlement rebate, it's hardly worth the hassle of setting up the direct debit !
Does anyone have a cunning plan as to how I invest the cash, making the monthly payment from the capital and earn more than £40 above the rebate. Personally I doubt it, but you never know when it comes to you clever & dedicated money savers.
thx
Skeek
I have £5000 in the bank.
I have a car loan with 13 months left @ 367.50 per month - 4777.5 ( total payable )
Current settlement figure is 4622.28 - a pathetic 155.22 interest rebate.
I've looked at the savings account route with ICICI @ 6.41% i.e. stick the cash in the savings account, transfer the monthly payment to my current account to cover the car loan and let the interest mount up, This would net me a whopping £40 above the settlement rebate, it's hardly worth the hassle of setting up the direct debit !
Does anyone have a cunning plan as to how I invest the cash, making the monthly payment from the capital and earn more than £40 above the rebate. Personally I doubt it, but you never know when it comes to you clever & dedicated money savers.
thx
Skeek
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