BLME query

melbury

Have just been reading their website and they certainly seem to be offering the best rate for a two year fixed bond.

However, I don't really understand what they mean by "anticipated profit":o Does this mean there is a chance that you may not get the advertised percentage?

Would be very grateful for some clarification on this.

Alternatively, does anyone know of a better paying bond? I don't want to fix for more than 18-24 months as I live in hope that interest rates will be on the move by then:)

Ifts

melbury wrote: »

Alternatively, does anyone know of a better paying bond? I don't want to fix for more than 18-24 months as I live in hope that interest rates will be on the move by then:)

Don't think there is a better paying bond, the next best after BLME is -
FirstSave 2 Year Fixed Rate Bond 16th Issue @ 2.35%

http://moneyfacts.co.uk/savings/fixed-rate-bonds/

Shawbrook were offering 2.40% on their 2 year fixed rate savings bond but looks like that has been withdrawn in the last week or two.

Linton

BLME is an Islamic bank and so cannot pay or receive interest. They cannot therefore guarantee the return, but they do suggest that it is unlikely that it wont produced the quoted return and you can withdraw your money if it isnt performing as required.

melbury

It was the Shawbook 2.4% bond that I intended going for, but unfortunately I am having to wait for days for a cheque to clear (honestly 5 working days seems crazy when it is a cheque from another financial institution):mad:

I was quite reassured that with BLME you get full FSCS cover, but just wanted to know if the rate was "set in stone" or if it could fall. I wonder if they let you know if it is likely to fall.

drphila

Its explained in their FAQs