fixed term isa

beattiesman

took out a 5year fixed term isa with legal &general,put in £14,000 in 2002,up to this year have got £142 interest.to me this does not seem a great amount.

dunstonh

What was the fixed rate you got with it?

Or was it one of those awful GEB products which we continue to tell people on here to avoid (well, everyone except Martin that is).

beattiesman

dunstonh wrote:

What was the fixed rate you got with it?

Or was it one of those awful GEB products which we continue to tell people on here to avoid (well, everyone except Martin that is).

where quoted roughly 3-4% interest, on looking through original paperwork it is called a protected portfolio 111 isa,but on statements recieving now its called a fixed term isa

johnmoney05

it looks a very bad deal...worse rate than in a current account?

£3,000 in a mini Cash ISA around 5% in a year can get at least £150...

richgirl

beattiesman wrote:

took out a 5year fixed term isa with legal &general,put in £14,000 in 2002,up to this year have got £142 interest.to me this does not seem a great amount.

So £142 in 4 years ?

Very poor, a 5% fix would have got you over £3000 compound @ about £700 per year.

P.S. How did u put £14k in it, ? Probably £7k split 7k in an isa wrapper and £7k without.

dunstonh

This isnt an interest bearing account. It is a stockmarket linked investment invested into just one sector which happens to have been one of the worst areas to be invested in over the last 5-6 years.