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Direct Mailing from YBS
Jim_B_3
Posts: 404 Forumite
So, the YBS has mailed me directly about a new savings account. They're so keen they've handwritten my name and address into the form for me.
4 year deposit, return is 15.5% or 50% of FTSE100 growth, whichever is the larger.
That of course works out as about 3.7% per year, which is pretty bad for something that ties your money up for four years, and if you thought the FTSE100 was going to do better than 30% over the next four years you'd just put your money into the FTSE instead.
I've neevr been directly targetted like this before. Are the YBS keen to get some long-term savings into their clutches? How does this compare with the other such accounts out there ('guaranteed equity,' they might be known as - I've never had one myself)?
4 year deposit, return is 15.5% or 50% of FTSE100 growth, whichever is the larger.
That of course works out as about 3.7% per year, which is pretty bad for something that ties your money up for four years, and if you thought the FTSE100 was going to do better than 30% over the next four years you'd just put your money into the FTSE instead.
I've neevr been directly targetted like this before. Are the YBS keen to get some long-term savings into their clutches? How does this compare with the other such accounts out there ('guaranteed equity,' they might be known as - I've never had one myself)?
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Comments
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That sounds pretty dire for a guaranteed equity bond, which are generally seen as awful products to begin with!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Yes, I have to wonder what their thinking is. Apparently it's only open until the start of November. Maybe they want a quick cash injection that they can hang on to for four years.0
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