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Shepherds Friendly

Gadjet87 · 2022-02-21 00:17:48

Hello, I've recently noticed an ad from Shepherds Friendly offering a 2.25% AER for a 5-year fixed term. Which would translate to a staggering £225 per year for a 10k deposit. Is there a catch on this? As this is nowhere near what other suppliers offer. Thanks

Comments

Daliah Posts: 3,792 Forumite

21 February 2022 at 9:57AM

Aretnap said:
IF it is indeed a life insurance product which has been dressed up to look like a savings product then it will indeed have unlimited FSCS protection.

Note the "if"; I can't speak to the technicalities of what precisely makes it insurance rather than savings.

Mea culpa, Mea maxima culpa - I did not notice it's an insurance product. I withdraw my remarks about the company. Thanks for the heads up

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