Chelsea BS 6.65% (2 Year) ClicknSave (20th Issue)

Afahmaep

I hope other carpetbaggers like myself will be delighted with this new account from Chelsea.


http://www.thechelsea.co.uk/html/savings/invest_ccns20_intro.html

baby_boomer

Why do you need to be a carpetbagger? This is an excellent 2 year rate IMHO. Have a rec .

KingKenny

Excellent, why, in twelve months time the base rate in the UK I THINK? Will be @ around 6% to 6.25%. Ice Save will be paying I THINK AGAIN AROUND 6.62% on monthly income, so Chelsea take your "excellent 2 year rate IMHO" and put it with your sub prime over leveraged positions?

Froglet

I thought rates were going to come down next year? Do you think they will be higher than they are now this time next year then?

KingKenny

Froglet wrote: »

I thought rates were going to come down next year? Do you think they will be higher than they are now this time next year then?

They can fiddle all they want with CPI (Chinese Plastic Immitation), but once sterling starts to tank against other real currencies, not the F@cked up US dollar, then we start to import inflation big time, then watch inflation roar like a lion?

Interest rates are not going anywhere at present I THINK, no way, but the next move will be up I THINK, because the one thing which has an effect on everything we/you use eat, sleep and drink has doubled over recent times and that is something that is a finite resource, the black beauty, no not guiness, OIL!!:beer:

Greycrow

$38 before Iraq now $100. Don't we have brilliant political leaders.
You're right, watch the price of oil and it's not going down.

caveman38

Why do they call it a Click n save when it's a postal account?

bristolleedsfan

caveman38 wrote: »

Why do they call it a Click n save when it's a postal account?

because chelsea have never got round to launching any internet accounts, by calling accounts "click" in its own mind its believing that it is up with 2007 technology.

"click " fingers for a pen to apply and transact. :rotfl:

Milarky

KingKenny wrote: »

Excellent, why, in twelve months time the base rate in the UK I THINK? Will be @ around 6% to 6.25%. Ice Save will be paying I THINK AGAIN AROUND 6.62% on monthly income, so Chelsea take your "excellent 2 year rate IMHO" and put it with your sub prime over leveraged positions?

Missed the point, surely. For carpetbagging purposes one only needs £100 in an account - and this account you can open with £1. If the 'best' rate currently available at Chelsea was their 5.8% (variable) regular saver then that's an immediate jump of 0.85%. If the BOE rate where to go up in steps every 3 months in the next year by 1% and stay there (seems extreme to me) it would only be - on average 0.375% higher for the next 12 months and then 1% higher for the next year - thats '6.125%' followed by '6.75%'

6.125% + 6.75% = 13.28% (compounded)

6.65% + 6.65% = 13.74%

So, even for a significant holding, a 2 year rate of 6.65% is an adequate hedge against further increases - even up to 6.75% UNLESS the BOE MPC tries to raise rates faster than it has in its history (in 0.5% moves) Not impossible but unlikely

Meanwhile, no more £25 per month standing orders to bother with....

Afahmaep

Go to the Dudley Building Society page here

http://www.dudleybuildingsociety.co.uk/saveregularbonus.htm

Read the 'Other Criteria' section and just check the spelling of the word 'account'.

KingKenny

Afahmaep wrote: »

Go to the Dudley Building Society page here

http://www.dudleybuildingsociety.co.uk/saveregularbonus.htm

Read the 'Other Criteria' section and just check the spelling of the word 'account'.

acocu.nt

aco!!!!:rotfl: