I've been looking into Fixed deposit accounts with HSBC today who i already bank with, I have 50k GBP

to deposit and i noticed the South African Rand account was offering 12.5 percent interest for a 1 year fixed rate deposit account. Sounds pretty good and looks pretty easy to set up.

Im 28 yrs old and i am a complete newbie when it comes to investing money.

Any advice on anything i have raised would be appreciated.

I've been looking into Fixed deposit accounts with HSBC today who i already bank with, I have 50k GBP

to deposit and i noticed the South African Rand account was offering 12.5 percent interest for a 1 year fixed rate deposit account. Sounds pretty good and looks pretty easy to set up.

Im 28 yrs old and i am a complete newbie when it comes to investing money.

Any advice on anything i have raised would be appreciated.

Think of the amount of SAR you will get at the end of the deposit period.

What will it be worth then in GBP ?

Will it be the equivalent of a 12,5 percent increase on your initial 50k ?

If you can answer yes to both questions you have a great deal, if not you take the risk

Are you going to be needing to spend Rand in the future?

If not what is it going to be worth when you convert it back to GBP in the future?

You are taking a gamble on exchange rates for the sake of high interest rates.

If you want to do that you can get 18% interest on the Dong in Viet Nam.

Are you going to be needing to spend Rand in the future?

If not what is it going to be worth when you convert it back to GBP in the future?

You are taking a gamble on exchange rates for the sake of high interest rates.

If you want to do that you can get 18% interest on the Dong in Viet Nam.

Fair point taken.

Perhaps it would be best to Look at NZ or AUD so as not to overlook unstable exchange rates then?