8% interest isa .

alfmurph
alfmurph Posts: 213 Forumite
First Anniversary First Post
in ISAs & tax-free savings
Looking around to change my isa and also thinking ahead how to invest my final salary lump sum pension . While browsing the isa rates i see there are a few paying 7-8% . Why bother investing in the stock market when these rates are around . Could someone explain these isa rates please .

Comments

  • Dazed_and_confused
    Dazed_and_confused Posts: 6,458 Forumite
    Uniform Washer
    Doubtful given you haven't said who they are with.

    But I would check what protection is provided.
  • Audaxer
    Audaxer Posts: 3,506 Forumite
    First Anniversary Name Dropper First Post
    What Cash ISAs are adverted at these rates? If it sounds too good to be true it usually is.
  • cjv
    cjv Posts: 513 Forumite
    Name Dropper First Anniversary First Post Newshound!
    I found them too when I was browsing recently, googling "compare ISA".

    These are not cash ISA's and you risk losing all your money.
  • alfmurph
    alfmurph Posts: 213 Forumite
    First Anniversary First Post
    london capital . 8%.
    blackmore . 8.5%
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    alfmurph wrote: »
    london capital . 8%.
    blackmore . 8.5%

    Those aren't cash ISAs; they are extremely high risk "investments". There is a very high probability that you will lose all of your money.

    No bank is going to pay 8, as interest rates simply aren't high enough.
  • HappyHarry
    HappyHarry Posts: 1,572 Forumite
    First Anniversary Name Dropper First Post
    alfmurph wrote: »
    london capital . 8%.
    blackmore . 8.5%

    If you search the forums there is plenty of information on both of these.

    The general consensus is don’t touch with a barge pole.

    Neither are cash deposits, they are both high risk products which come with the risk of losing 100% of your money and there is no FSCS Protection.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    HappyHarry wrote: »
    The general consensus is don’t touch with a barge pole.

    Yeah I like to keep my barge pole clean. It's a scandal how these products are being presented to the public.
  • jimjames
    jimjames Posts: 17,586 Forumite
    Photogenic Name Dropper First Anniversary First Post
    alfmurph wrote: »
    london capital . 8%.
    blackmore . 8.5%

    What makes you think they are cash ISAs? There is no mention of ISA anywhere on their sites. You should also read the risk warnings.
    alfmurph wrote: »
    Why bother investing in the stock market when these rates are around . Could someone explain these isa rates please .

    Why would you invest in an unregulated product where you could lose all your money when you could put it in a S&S ISA and have full FSCS protection and not risk losing it all?
    Remember the saying: if it looks too good to be true it almost certainly is.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards