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Fixed Rate Savings Accounts - Rates likely to reduce

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Comments

  • Pincher
    Pincher Posts: 6,552 Forumite
    1,000 Posts Combo Breaker
    smc4761 wrote: »
    I have found a decent fixed rate of 6.5% for 2 years


    Damn, and I did a five year fixed for 1.75% with Halifax a few months ago. Just to qualify for the monthly Prize Draw. Can't seem to find the 1.75% deal any more, though.

    If the FCA is going to let them get away with this kind of product, I'm going to launch a Vegas fund. I will open an online casino account, and deposit the fund's money. The online system will record every bet, naturally.

    Is it any different from a fund that buys and sells bonds and shares? It's all recorded and above board. Potentially, it's cheaper, because gambling gains is tax free!
  • eskbanker
    eskbanker Posts: 40,618 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    smc4761 wrote: »
    seems to be too good to be true
    If you really feel it's necessary to go beyond that, do a forum search for London Capital and Finance so you can read some other threads where the pitfalls are explained!
  • teddysmum
    teddysmum Posts: 9,533 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    darren72 wrote: »
    Thank you - I like the idea of getting cashback for opening the account too - which can only be done online.



    That is only given if you transfer our account, but we are keeping our original main account.
  • colsten
    colsten Posts: 17,596 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    teddysmum wrote: »
    That is only given if you transfer our account, but we are keeping our original main account.

    Just in case you are unaware: you don't have to give up your original main account in order to bag a switching bonus.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    colsten wrote: »
    Just in case you are unaware: you don't have to give up your original main account in order to bag a switching bonus.

    Which main account though?
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