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Guaranteed return on small savings

Greenqueen_2
Posts: 404 Forumite


I have recently been thinking about the supermarket christmas saving stamps schemes. Normally I would not bother with them because it forces you to spend in a particular store, but with interest rates currently so low it has become a far more attractive idea. There are pros and cons of course, but you are guaranteed upto 5% return, so if you will only have a small amount to put away it looks a better bet than trying to find a good bank rate.

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Comments
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If the supermarket goes bust, you've lost your money. People who bought stamps for Woolworths have probably now lost their money.0
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Can you imagine one of the big supermarkets going under? Woolies were doomed for years.0
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BruceyBonus wrote: »People were saying that about the banks a few years ago...
yet noone has lost money in the banks (savings wise)Mr & Mrs Doomcow Wedding Fund: £10200/£18000 (by 04/2012) (spent £2000)
meiow meiow purr meep merp purr urble purrup
requires further financing0 -
Greenqueen wrote: »I have recently been thinking about the supermarket christmas saving stamps schemes. Normally I would not bother with them because it forces you to spend in a particular store, but with interest rates currently so low it has become a far more attractive idea. There are pros and cons of course, but you are guaranteed upto 5% return, so if you will only have a small amount to put away it looks a better bet than trying to find a good bank rate.
i don't believe people still pin hopes on these schemes and save monthly or weekly in them after the farepak fiasco.0
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