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7 Alternative Savings Account Options When you Aren’t Making Interest

7 Alternative Savings Account Options When you Aren’t Making Interest

Today, we want to share 7 alternative savings account options when you aren’t making interest. Want to make a decent return on your money? Don’t put it in a savings account. While savings accounts are the most risk-free investment option, falling interest rates have made it very difficult to make any sort of profit. For those that want to find a passive way to grow their money, there are many other options that are much more effective. Below are just 7 alternative options to a savings account for growing your savings. 


A bond can be a great alternative to a savings account. These are loans that are lended out to either the government or a company. Your money is paid back after a certain amount of time with interest – which could be up to 6%. This is much more than any savings account is likely to earn you. Bonds are fairly low risk (government bonds are pretty much risk-free).

P2P lending

P2P (peer-to-peer) lending involves lending money to businesses or individuals. The money is paid back in installments with the option of earning interest rates of up to 6%. You can connect with borrowers using a peer-to-peer lending site. These are trusted sites that allow you to choose borrowers that have been credit approved. It’s generally a low-risk form of investment, although it can depend on who you lend to.

Stocks and shares

Stocks and shares are one of the most traditional ways to invest money. Nowadays, it’s easier than ever to get involved in stocks – there are free trading apps that you can download and invest through, some of which allow you to invest as little as $1. Alternatively, you can hire a professional broker to invest for you. You can make a return quickly though growth stocks and day trading (the high-risk option) or you can make money gradually by investing in more established companies (generally low risk). The average stock market return is about 10%.


A Bitcoin stands propped up on coffee beans.

Photo by Executium on Unsplash

Forex stands for ‘foreign exchange’ – it refers to the trading of currencies. Currencies are constantly rising and falling in value. By investing in a currency while it is low in value and then selling it at a high value, you can make a lot of money. Forex can be a little more risky than other investment options, but the average return is well over 10% (experienced forex traders regularly make returns of over 20% per month). Finding the cheapest Forex broker fees will help to increase your profits. 


Crypto is short for ‘cryptocurrency’ – these include digital currencies such as Bitcoin and Ripple. Like real world currencies, cryptocurrencies fluctuate in value, but often at a more extreme rate. While crypto can be volatile, the average return is 11.6%. When trading Ripple and other cryptocurrencies, always use a trusted exchange site. By using these sites, you can ensure that your purchase will be secure.

Precious metals

Another option could be to invest your money into precious metals. This includes the likes of gold or silver. Many investors buy bullions, however you can also invest in pieces of jewellery, old coins or other artifacts. It’s worth always using a trusted gold or silver dealer. The average return on precious metals is just over 10%.

Real estate

If you’ve got a lot of money saved up, you could consider putting it into real estate. This could include buying a property and renting it out if you want something long-term – or buying a fixer-upper, renovating it and selling it for a profit if you’re looking for a fast return. Real estate investment is a much more hands-on form of investment, although you can use tenancy agents, property managers and other professionals to help you. The average buy-to-let return is about 7%. House flippers meanwhile make an average of 40%.

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