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Halifax paying 6.85%
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Old_Slaphead
Posts: 2,749 Forumite
If you want to tie your money up for 5 years - this seems a decent rate.....
http://www.halifax.co.uk/savings/fixedwebsaver.asp
http://www.halifax.co.uk/savings/fixedwebsaver.asp
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Comments
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5 years is too long for tying cash up IMO, especially at such a(n) historically low rate. Who's to say interest rates won't shoot up in (say) 3 or 4 years to make 6.85% 'average' or even 'low'?
5 years is the sort of (minimum) term you'd be looking at to tie capital into equities - and without being forced to keep it there (though in the shorter term your at a greater risk of losing money if you do need to draw on it.)Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
FTSE 100 in 1998 was pretty much same level as it is now so 10 years 'long term' investing certainly hasn't paid off in labour's reign! (ok I know there's a 3% div yield).
Point I was making is, historically, it's quite a high 'risk free' return.0 -
You cannot simply 'ignore' or brush off the dividend yield - it works out to 34% if accumulated over 10 years - hardly insignificant, and much better than 0% which is what you're implying.Old_Slaphead wrote: »FTSE 100 in 1998 was pretty much same level as it is now so 10 years 'long term' investing certainly hasn't paid off in labour's reign! (ok I know there's a 3% div yield).
It's far from risk free if your money is inaccessible during those 5 years, if (for example) inflation went to 5.5% or above.Point I was making is, historically, it's quite a high 'risk free' return.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Birmingham Midshires are offering 6.81% gross on their I year direct internet fixed rate bond.
Started today, my application went in this morning:money:I like the thanks button, but ,please, an I agree button.
Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.;)
Always expect the unexpected:eek:and then you won't be dissapointed0 -
Paul_Herring wrote: »
It's far from risk free if your money is inaccessible during those 5 years, if (for example) inflation went to 5.5% or above.
The money is accessible with penalties. Should we get Mugabe-esque inflation clearly it would be advisable to close the account early and reinvest elsewhere. With serious inflation I'd be surprised to see the stockmarket booming.0
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