Birmingham Midshires 6.76% One Year Fixed Rate

johng_uk

Looks like they've just launched a new 1 year internet bond paying 6.81%

http://www.moneyfacts.co.uk/savings/...ate-bonds.aspx

Good spot mate.

The_Great_Mogul

I received my application form for the 6.76% fixed rate this morning, now there's this one at 6.81%. I know it's only a slight difference but shall I go for this one instead?

earlgrey_3

The_Great_Mogul wrote: »

I received my application form for the 6.76% fixed rate this morning, now there's this one at 6.81%. I know it's only a slight difference but shall I go for this one instead?

If the on-line one lets you do a BACS transfer you'll also save your cheque floating around in the post for an unknown period with your money waiting in a current account. Should be preferable for that reason alone.

johng_uk

I'm on the phone right now to put a stop to my application for the 6.76% acct. You just have to go for the 6.81% while it's there.

It's the closest thing to the Icelandic offers that I've seen. The scaremongering got to me and I decided that my cash wouldn't be heading 'Icelandic'!!

KAB_3

John, if you're not keen on Iceland how about India? 7% now at ICICI for 12mth fixed.

Fella

Fella wrote: »

I sent a cheque for the full amount by recorded delivery. A bit horrible since I'll lose out between now & when they open it but just wanted to get it done in one hit.

Cheque cashed yesterday for the 6.76 bond.

johng_uk

John, if you're not keen on Iceland how about India? 7% now at ICICI for 12mth fixed.

Cheers for that. I saw ICICI mentioned previous and they scare me also - With no justification to be honest. I'm investing my cash for a maximum of 4 years and then outting a deposit down on a house and so can't afford to lose a penny.

I think I'll stay in the UK for now! Although that's just as safe as anywhere else at the moment lol

Thanks though mate and good spot.

GraemeW

Basic question but....
Are these type of investments (ie Fixed term, fixed rate bonds) covered by FSA guarantee for compensation in the event of the failure of the Society? I know how conventional savings accounts and cash isas fare but are these treated differently?

ManAtHome

Yes, they're just fixed-term savings accounts so covered by the compo scheme (I wish they'd stop using "bond" as well...)