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Fixed Rate Bonds?
nicks
Posts: 386 Forumite
I am looking to invest £10,000. I am opening 2 Birmingham Midshire ISA's (1 in my name & 1 in OH's name). Also an e-saver account with Birmingham Midshires to pay monthly savings into. I would also like to invest £2800 into their 1 year Fixed Rate Bond which pays 6.81% AER. Are these bonds good to have? I don't really know much about them....
Thanks
Nicks
Thanks
Nicks
0
Comments
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They're not Bonds, as such ..... they're fixed term deposits. In all practical terms they're a fixed rate savings account. So, no real mystery to them, other than that they are for a fixed period at a fixed rate.
I've had a couple with them ... no problems whatsoever. Except you might need ID to open if they can't fully verify you electronically.If you want to test the depth of the water .........don't use both feet !0 -
If you're looking for the top interest rate for a fixed rate savings account, you can do better with icesave at 7.01% AER:
http://www.icesave.co.uk/fixed-rate-savings.html0
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