Nationwide offers 18 month fixed bond 0.5% plus prize draw

whitesmith

180 days interest on £10k is about £25 so good idea - think of it as a £25 lottery ticket, with the added bonus of if 0.5% is beginning to look good by February you can keep the money if for the full 18 months!

kinger101

So it's 0.5 % interest, and the other 0.5 % is in a prize fund.  It's a fixed rate bond, so waiting until February to see if it looks good isn't really an option.  If it doesn't, you'll lose all the interest accrued up until that point if you decide to withdraw.

You can already get a 18 month fix at 1.27 % with Family Building Society.  After 18 months in Nationwide, I'd get £75.09 interest on £10K.  With FBS, I'd get £191.10.  There's a 1/200 chance I'd get a £10K prize with with Nationwide.  Or I could just take the additional £116.01 I got with FBS and find something with a low house-edge in the casino like roulette.  For example, I'd have a 1/114 chance of winning £12,528 if I bet £116 on a split then  a six line.  And if it wasn't my lucky day, I'd still be 1 penny better off than the Nationwide deal.
 

Yellowvest23

kinger101 said:

So it's 0.5 % interest, and the other 0.5 % is in a prize fund.  It's a fixed rate bond, so waiting until February to see if it looks good isn't really an option.  If it doesn't, you'll lose all the interest accrued up until that point if you decide to withdraw.

You can already get a 18 month fix at 1.27 % with Family Building Society.  After 18 months in Nationwide, I'd get £75.09 interest on £10K.  With FBS, I'd get £191.10.  There's a 1/200 chance I'd get a £10K prize with with Nationwide.  Or I could just take the additional £116.01 I got with FBS and find something with a low house-edge in the casino like roulette.  For example, I'd have a 1/114 chance of winning £12,528 if I bet £116 on a split then  a six line.  And if it wasn't my lucky day, I'd still be 1 penny better off than the Nationwide deal.
 

great reply and exactly the way i worked it,but only with the 1.25% 18 mth charter bond
£116.01 @ 200/1   £23,202. 
With this NW gimmick you would win £10k

also the 0.5% of deposits entered into the draw must stay there for 18 mths so in reality that part of the payout is only 0.33%.
so in effect you are getting a 18mth bond @ 0.833%

Total gimmick by the rip off mutual for the benefit of the multi millionaire directors courtesy of you,

No wonder they or should i say we paid the CEO £2,370,000 basic pay last year.