£35k in ICICI 7%, £35k in Kaupthing 6.86%....Nationwide next?

john_kane_2

ah yes, wise thoughts about putting in 35k/1.07.

Just a thought about your rant. I suspect that most people in the UK would think that £36k was a pretty good salary for one person. Many people are bringing up families on less. Where should the 40% band kick in and who would pick up the difference? How about more taxes on motorists!

£36k living in london isnt enough if you want your own apartment. with a mortgage of £150k i could just get a studio apartment in the very worst part of london, and even then i doubt that. ike the rest of the country house prices have been ridiculous and i just hope we see the 15% real term drop in the next 2 years the futures market is predicting.

many families are bringing brought up on less. i have incredibly respect for my parents as they had to scrimp for over a decade to get me and my brother with food on the table, clothes, bills to pay etc etc.

the 2 tier tax rate system is laughable. there are so many tax changes id like to make i go rant on for hours. most importantly is making sure everyone gets back what they put in. everyone should be paying a set amount for defence, police, building of hospitals etc. then above that the rich should be paying for those poorer people who are working hard but havent had the same fortunate breaks.

also inheritance tax should be vastly increased. we wont fix society until people start off on an equal playing field and hard work leads to rewards. id say the most anyone can pass down to their family is say £400k. if the children want to have the same comfortable lifestyle, they should have to work to earn it.

ill end my ranting there. but needless to say the current system is so bad and society reflects this.

dov

john_kane wrote: »

I have about £100k i want to put into year long bonds. I am going to put in £35k in ICICI (this looks very good based on you still get 5.75% on any withdrawls). Kaupthing appears to be wise, but I havent found what their withdrawl penalties are.

Premature withdrawal rate is 5.00% and not 5.75%
http://www.icicibank.co.uk/hisave_td_interest_rates.html

One thing you can do is open multiple accounts so you can withdraw parts of the money early if necessary. There are no limits on the number of HiSave Term Deposit accounts one can have, nor is there a limit on the amount of money one can deposit.

liitleblackcat

jackdoor wrote: »

Jeez john_kane you sure are an auld whinger who wants everything his own way - I bet the toys used to fly out of your pram!

Absolutely. Does he want everything and more or what!

john_kane_2

thanks dov for pointing that out, my bad.

and ha ha indeed, i would like everything as i see fit. i know it'll never happen, but till we get everyone on a level playing field from day 1, then we'll always have a lot of angry people, which leads to problems.

Lavendyr

What about Icesave at 6.7% for 1 year or 6.86% for 6 months? Cannot withdraw, though.

hawkesbaynz

Leeds Building Society.
6% until October and 50% allowable withdrawal before that.

I would not gamble on Banking Shares. You may get good dividends but the capital is quite liable to diminish. That 8% dividend will be poor compensation for a 30% loss in capital.

Possibly put the money in an absolute (hedged) fund like Blackrock Absolute Alpha Fund
http://www.h-l.co.uk/fund_research/security_details/sedol/B11V7T6.hl
or Threadneedle Absolute Bond.
http://www.h-l.co.uk/fund_research/fund_performance/sedol/B0L4TF8.hl
or Ruffer European Opportunities
http://www.h-l.co.uk/fund_research/fund_performance/sedol/3167816.hl
Have done well in past months but cannot be guaranteed. Always a bit of a gamble if it is money you need in the short term - thus the boring but sensible Fixed Rate cash Account would be the way to go.