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Sillychuckie

Don't know if its any good, hoping others can comment.. but received it in an email:

http://host.alliance-leicester.co.uk/bsip/june06/balance.php?u=nnePBJIT&c=al0106064323

8% gross sounds good, but then 4.93AER doesn't. Also, I'd be more interested and concerned in the 5 year bond.
Have a look see...

Sillychuckie

Is there any reason why this post has fallen on deaf ears?
I hate to bump, but....

mary

Initial thoughts are 8% is good, but they do have £250 Regular Saver for 10% currently. Larger percentage but for a smaller amount.

However the new plan says min. £1,000 for the 8% and min £5,000 for the Investment Bond (which can go up or down) and yet it says that 60% min must be invested in the Bond, which seems a bit contradictory, unless I've misunderstood. So that means £3,600 in the Investment Bond and £2,400 in the 8%? Don't want to tie up that sort of money for so long, personally, rather take the annual fixed savers. I guess I'm not much of a risk taker!

Aark

8% gross sounds good, but then 4.93AER doesn't

The difference of 3.07% is conditional on keeping at least £1,000 in the account for a year.

However the new plan says min. £1,000 for the 8% and min £5,000 for the Investment Bond (which can go up or down) and yet it says that 60% min must be invested in the Bond, which seems a bit contradictory, unless I've misunderstood.

It's not contradictory, the total investment must be at least £6,000.

The investment bond part must be at a minimum the higher of:-
a) £5,000;
b) 60% of the total investment.

Don't want to tie up that sort of money for so long, personally, rather take the annual fixed savers. I guess I'm not much of a risk taker!

Alliance & Leicester are just trying to sell investment bonds. You wouldn't really want to take this account up unless you were planning on investing for 5-10+ years anyway.

homersimpson_3

Is there any reason why this post has fallen on deaf ears?

no & people haven't forgotten you. sometimes people may not reply for days- the ones with the information may not be on line or reading other forums. If something is urgent put a note in title of posting to this effect and in message itself explanation why- just courtesy so people know full circumstances and can provide relevant advice.

cheerfulcat

Sillychuckie wrote:

Don't know if its any good, hoping others can comment.. but received it in an email:

http://host.alliance-leicester.co.uk/bsip/june06/balance.php?u=nnePBJIT&c=al0106064323

8% gross sounds good, but then 4.93AER doesn't. Also, I'd be more interested and concerned in the 5 year bond.
Have a look see...

Hi, Sillychuckie,

The 8% sounds very appealing but it's your own money they're bribing you with; it comes out of the large charges they will extract from the Legal & General " investment bond " ( smells like a with profits bond to me ). You are tied into the L&G product for at least five years ( there are early encashment penalties ) and there is the possibility of an exit penalty being levied. You need an extra long bargepole for this one...

HTH

Cheerfulcat

Sillychuckie

Already using their 10% regular saver, and lots of other regular savers, and have used up my 3k mini cash ISA allowance... so still looking for places to save.
I suppose I should use up the rest of my 4k ISA allowance (equity) first. Anyway, thanks Cheerfulcat, I'll delete the email.