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Coventry Building Society
inneed
Posts: 399 Forumite
Hubby just came back from CBS saying they had a new 5 year bond offering 7% interest. Nothing on their website. Anyone know anything about this? - Sounds too good to be that simple to me! 
Always look on the bright side of life ....la la la la la la la la
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Sounds more like something linked to investments rather than savings?0
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I agree that it seems too good to be true.
Perhaps an ISA offering 4.2% which is equivalent to 7% to a higher rate tax payer?
Either that or one of those accounts where proportion of the money is deposited and earns a fixed rate of interest and the rest earning a return based on stock market performance.0 -
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7%? *pricks ears up* I'm all attention....0
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Called in myself today - to be told the same thing! The only way I could get the details was if I made an appointment with one of their advisors (which I didn't do, as I can't stand sales talk!).
I said it's not on the website - no, that's right. Have you any details? - no you have to talk to an advisor. Is the 7% guaranteed? -yes, the money is added at the end of the term. Is it stocks and shares? -no. The only details she would give is that it is in conjuction with Credit Suisse.
So, don't know if the cashier was right with her info, if it is risky, or bu**er all else really. Anyway, I came away none the wiser apart from thinking 'forget it'!Always look on the bright side of life ....la la la la la la la la0 -
Some other building societies offer Credit Suisse linked products that are linked to the stock market although not directly invested in it. Neither of these match the Coventry BS product described. Are we sure that the 7% guaranteed rate of interest is per annum? Could it not be total over the term of the 4-year investment? The Yorkshire product's "If you keep your investment for the full 5 year term you will earn at least 11.25% growth" does not mean per annum!
Cambridge BS
http://www.cambridgebs.co.uk/__assets/asset749.pdf
Chelsea BS
http://www.thechelsea.co.uk/forms/gca3_planterms.pdf
Stroud & Swindon BS
http://www.stroudandswindon.co.uk/uploads/PDF/Credit_Suisse_Brochure_Sep09.pdf
Yorkshire BS
http://www.ybs.co.uk/documents/gia/gia_090619/brochure_tracked_growth.pdf0 -
Some other building societies offer Credit Suisse linked products that are linked to the stock market although not directly invested in it. Neither of these match the Coventry BS product described. Are we sure that the 7% guaranteed rate of interest is per annum? Could it not be total over the term of the 4-year investment? The Yorkshire product's "If you keep your investment for the full 5 year term you will earn at least 11.25% growth" does not mean per annum!
Cambridge BS
http://www.cambridgebs.co.uk/__assets/asset749.pdf
Chelsea BS
http://www.thechelsea.co.uk/forms/gca3_planterms.pdf
Stroud & Swindon BS
http://www.stroudandswindon.co.uk/uploads/PDF/Credit_Suisse_Brochure_Sep09.pdf
Yorkshire BS
http://www.ybs.co.uk/documents/gia/gia_090619/brochure_tracked_growth.pdf
Tend to think you are right Alanq, and that the cashier didn't know her assets from her elbow!
Always look on the bright side of life ....la la la la la la la la0
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