ING giving fixed 2.96% Gross (3 AER) for 3months

f_@_w_y

[FONT=&quot]Dear All,[/FONT]

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[FONT=&quot]I recently recieve the following email. Is it good idea to go for that... Look at the last lines.... From my understanding... Are the ready to pay me GROSS INTEREST if I fix more than £50k with them.[/FONT]
Please be aware... I am one of the Ex-Icesavers :rolleyes:
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[FONT=&quot]Dear Mr f@wy;)[/FONT]
[FONT=&quot]In the current economic climate, we are all feeling the pinch and making savings where we can. With ING Direct however, we can help you make the most of your savings by offering you one of our Fixed Rate Savings Accounts. With the economy affecting people in different ways, the benefit of having a fixed rate account is that you can take comfort in the fact that your interest rate will not change for the duration of the term.[/FONT]
[FONT=&quot]With the Bank of England base rate at an all time low, we can keep your
savings growing at a steady rate by offering you a guaranteed fixed rate
of up to [FONT=&quot]3.0% AER[/FONT] ([/FONT][FONT=&quot]2.96% gross p.a.[/FONT][FONT=&quot]) with a savings bank you can trust. [/FONT]
[FONT=&quot]Limited Fixed Rate offer – make the most of it now[/FONT]
[FONT=&quot]We have three Fixed Rate Savings Accounts to offer you. As this is a limited offer and can be withdrawn at any time, make the most of the opportunity to secure your savings with a great rate and open an account today.[/FONT]

• [FONT=&quot]3.0% AER[/FONT][FONT=&quot] [FONT=&quot]guaranteed [/FONT](2.96% Gross p.a.) for a 3 month term when you save a minimum of £25,000[/FONT][FONT=&quot][/FONT]
• [FONT=&quot]3.0% AER[/FONT][FONT=&quot] [FONT=&quot]guaranteed [/FONT](2.97% Gross p.a.) for a 6 month term when you save a minimum of £25,000[/FONT][FONT=&quot][/FONT]
• [FONT=&quot]2.5% AER[/FONT][FONT=&quot] [FONT=&quot]guaranteed [/FONT](2.48% Gross p.a.) for a 6 month term when you save a minimum of £10,000[/FONT][FONT=&quot][/FONT]

[FONT=&quot]You can also spread your savings across several accounts, making the most of these guaranteed rates. When you reach the end of your fixed term, the balance of your savings will automatically move into your ING Direct Savings Account together with all the interest you have earned along the way.[/FONT][FONT=&quot][/FONT]
[FONT=&quot]These offers are only available for a limited time. You can open a Fixed Rate Savings Account by visiting[/FONT][FONT=&quot] [FONT=&quot]ingdirect.co.uk[/FONT] [/FONT][FONT=&quot]or by calling our award winning
UK call centre on [/FONT][FONT=&quot]0845 845 5888[/FONT][FONT=&quot].[/FONT][FONT=&quot][/FONT]
[FONT=&quot]Saving feels good, saving with ING Direct feels even better.

TAX STATUS: [/FONT] [FONT=&quot]We will pay interest net of tax on all deposits under £50,000. However, if you deposit £50,000 or more, we will pay interest gross. Please note tax may still be payable and it will be your responsibility to declare this to HM Revenue &[/FONT]
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Baldur

Many institutions pay gross interest on larger sums - all it does is place the resposibility on YOU to declare and pay the relevant tax to HMRC.

f_@_w_y

Baldur wrote: »

Many institutions pay gross interest on larger sums - all it does is place the resposibility on YOU to declare and pay the relevant tax to HMRC.

What will happen if you dont pay to HMRC??? What will happen if you register for GROSS interest?? :cool:

Baldur

If you are a non-taxpayer, no problem. If you are a taxpayer, you probably don't want to find out how tax evaders are treated.