Reply to: 6.57 % Average interest in a BG bank

[AtW]

Has this got a FSCS guarantee?

Naturally.

[DeludedAussie]

My bank pays 0%. The Govt gets 20% of that.

HTH

Has this got a FSCS guarantee?

[AtW]

Inflation is more like 10% at least, and then the government want tax on the pathetic level of interest the banks pay? Its scandalous tbh.

My bank pays 0%. The Govt gets 20% of that.

HTH

[escapeUK]

Lets face it, any money you put away now will be worth a lot less in real terms in 5 years time.

Inflation is more like 10% at least, and then the government want tax on the pathetic level of interest the banks pay? Its scandalous tbh.

[AtW]

AtW. That was the plot of Hustle last night. Oh dear. You've lost touch with reality we need to get you to a clinic.

Back from watching my first football game (the team I was meant to support won) and then lots of drinks in pubs..

[MarillionFan]

I am back now.

Not for long - going to watch some movie on my TV and go watch first real life football game tomorrow.

The local non-league club in question is about to go bust - so the urged all fans to attend game, not that I am a fan but the guy who is a fan makes an easy target for my witty sniping efforts, no it's not you MF, even a toddler could snipe yer easily

AtW. That was the plot of Hustle last night. Oh dear. You've lost touch with reality we need to get you to a clinic.

[AtW]

I look forward to your wisdom.

I am back now.

Not for long - going to watch some movie on my TV and go watch first real life football game tomorrow.

The local non-league club in question is about to go bust - so the urged all fans to attend game, not that I am a fan but the guy who is a fan makes an easy target for my witty sniping efforts, no it's not you MF, even a toddler could snipe yer easily

[MarillionFan]

I guess since you are a Plan-B-loser the best you can do it lock in your money for 5 years into some nobody-names bonds, but it's allright - you'll just pay penalty to withdraw your money

I'll do more of when I am back from pub.

Oh dear.

Please continue when you get back from the pub, after your half of mild, and sit on the bare floor of your rented bedsit with your Domino's pizza and then educate me on how to invest money.

I look forward to your wisdom.

[moorfield]

I just found out about a Bulgarian bank that offers free-access to money account with interest at 6.57 % .

Brilliant.

This is the funniest post I have read all week.

[AtW]

As my mortgage is 0.98% and offset I withdrew all of it, I am getting 4.75% on it but paying 0.98. What a moron.

I guess since you are a Plan-B-loser the best you can do it lock in your money for 5 years into some nobody-names bonds, but it's allright - you'll just pay penalty to withdraw your money

I'll do more of when I am back from pub.

[MarillionFan]

I highlighted "5 year bond".

Then I had a massive for the "5 year part", and then I expressed my doubt that bonds will be covered by guarantee (if they are then why not call it deposit then and get over with it?!?!).

Even if they are covered (show me link if you claim they are), only a moron would lock cash for 5 years to be paid less than 5%: if rates don't go up soon inflation over that period will be easily over 30%.

I am off to pub.

"only a moron would lock cash for 5 years to be paid less than 5%:" - Oh dear.

All investment bonds have a penalty for withdrawal. If you can use a spreadsheet you can factor in the cost of removing your money. So lets say interest rates go up and the rate is no longer attractive you can withdraw. You will pay a penalty but I've found that such a thing as a spreadsheet can be used to calculate the return. Incredible.

As my mortgage is 0.98% and offset I withdrew all of it, I am getting 4.75% on it but paying 0.98. What a moron.

[AtW]

But that is not the point you were making was it!!!!!!!!!!!!!!!!!!!

I highlighted "5 year bond".

Then I had a massive for the "5 year part", and then I expressed my doubt that bonds will be covered by guarantee (if they are then why not call it deposit then and get over with it?!?!).

Even if they are covered (show me link if you claim they are), only a moron would lock cash for 5 years to be paid less than 5%: if rates don't go up soon inflation over that period will be easily over 30%.

I am off to pub.

[MarillionFan]

If you want to put 50 grand for 5 years in bonds of some provincial building society that isn't even got Birmingham in it's name then you are the moron.

But that is not the point you were making was it!!!!!!!!!!!!!!!!!!!

I accept your apology.

Now come here and give me a cuddle.

[AtW]

You ******* moron. The Coventry is a building society. Therefore each investor is covered by FSA rules to the tune of £50K on an investment bond. Don't show yourself up.

If you want to put 50 grand for 5 years in bonds of some provincial building society that isn't even got Birmingham in it's name then you are the moron.

[MarillionFan]

Does FSA even insure bonds of private companies? It's not a deposit.

You ******* moron. The Coventry is a building society. Therefore each investor is covered by FSA rules to the tune of £50K on an investment bond.

Don't show yourself up.