Legal and General Cash ISA

fedster

Hello this is my first post, i was just wondering if you kind people could give me some advice and also share your experiences.

Back in 2009, i deposited £3,603,40 into a Legal and General Cash ISA, the actual name is L&G CAPITAL GUARANTEED MULTI-INDEX EQUITY BOND 10,this is a 5 year investment, and i wont lose anything, which Nationwide Building Society have guaranteed to me.

What i was wondering is has anyone else invested into a similar ISA? How successful have you been and also would you advise investing in other ISAs?

I am 23, the above ISA was the first time i invested in an ISA, so a bit inexperienced thus wanting your help.

Thanks for reading

sabretoothtigger

i wont lose anything

would be unusual to not lose anything. I think they normally take anything above a 5% gain per year, does it say whats the most you can have in 5 years

google Guaranteed Equity Bond


If its this one, it seems they offer 6% per year for 6 years which is fairly rubbish. Could be worse, its comparable to a fixed rate saver.
http://www.financemarkets.co.uk/2009/02/17/nationwide-launches-6-year-guaranteed-equity-bond/
Its not a real investment, they tend to offer these when it most profits them so take that as a clue

fedster

Well when i discussed with Nationwide in 2009 they did say, whatever happens i would be guarenteed to get back what i put in, regardless if the value goes down, with Nationwide making up any potential loss, i have this in writing as well.

Mikeyorks

It's a Guaranteed Equity Bond ......... and they are usually poor performers. It's generally not regarded as a wise choice ...... either inside or outside of an ISA. You're basically gambling on markets going up. But - unlike most investments you get no dividends and you have absolutely no control over the situation once the 5 years (are you sure it's not 6?) starts :

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1414

...... in other words you can't opt out when things appear to be in your favour. There's a recent thread here regarding a similar one .... recently matured with no growth whatsoever.

https://forums.moneysavingexpert.com/discussion/2948388

There's nothing wrong with ISAs. But they're just the tax free wrapper ..... it's what you put in them that makes the difference. If you want something more enticing than plain cash ..... there are thousands of different funds. But GEBs are generally poor and buying from a Bank usually adds to your problems. They do not give impartial advice ...... they are simply after a sale.

Having said all of that ....... I found my Mum with an NS&I one a few years ago that made her 60% over the 5 years. What possessed her to buy one I know not ..... but they don't usually perform well.