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ameinc - 09.06.2017 - 11:57:31

With low interest rates in many countries, where do you recommend should I "park" my money and get more than 3% interest per year?

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stephanhurholz - 10.06.2017 - 12:08:51

Hi ameinc,
This largely depends on the risk you are willing to take. Fixed term deposits in some countries can yield interest of up to 6% p.a.. Egypt is one of those countries for instance where you can open a non-resident account. However the financial institutions in countries such as Egypt normally receive a lower rating score which means they are more likely to default. I therefore would say its only prudent to invest in higher fixed term deposits if you have some knowledge of the market and can reasonably forecast the economic environment for the next year. I wouldn't "park" it anywhere longer than that.

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