We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Would my investment be safe ??
Dukes_of_hazard
Posts: 87 Forumite
The other day the Chelsea Building society suggested that to get a better rate on my savings that I look into a 5yr term investment product that would guarantee that the value of my investment would not go down at the end of the 5yrs. They would also give me a bonus of 2% of my investment at the beginning of the deal.
The other half of my lump sum they said they would give me 7.75% for 1 yr which would mean my monthly income from this sum would only drop by a small amount. ( as my current fixed rate deal is not paying great rates)
This side of the investment sounds pretty good as 7.75 seems very competitive . I am not sure exactly how the 5yr investment product works though.
Does anyone know what I am talking about regarding the investment product and does the fact that my money is guaranteed make this product any good ??
Cheers
The other half of my lump sum they said they would give me 7.75% for 1 yr which would mean my monthly income from this sum would only drop by a small amount. ( as my current fixed rate deal is not paying great rates)
This side of the investment sounds pretty good as 7.75 seems very competitive . I am not sure exactly how the 5yr investment product works though.
Does anyone know what I am talking about regarding the investment product and does the fact that my money is guaranteed make this product any good ??
Cheers
Easy Money
0
Comments
-
Do a board search for guaranteed equity bonds, not pretty reading!"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards