Jump to content
House Price Crash Forum
TheCountOfNowhere

2.8% Savings Bond From Tesco.

Recommended Posts

5 years 2.80% 2.76% 2.24% 2.21%

http://www.tescobank.com/savings/fixed/fixed-rate-saver/index.html

Happy days.

The rich get richer the debtors keep paying more.

Remember Einstein ? Quite a clever bloke, good with numbers and adding up and all that jazz....well some clever bloke quoted this to me last week ( and I can assure you it is true ).

Albert Einstein > Quotes > Quotable Quote

9810.jpg
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Not being able to withdraw your money for the bond period (at least a year) seems a bit too risky for the little bit extra you get.

Edited by billybong

Share this post


Link to post
Share on other sites

I wouldn't put one single penny piece of my money anywhere near any part of Tesco under any circumstances in which I had any option.

I am not a fan

I'll take circa 3% off anyone over the next 3 years.

if tesco goes belly up I'll get my money back (hopefully) anyway.

Us lenders have no morals :P:P:P:P

Share this post


Link to post
Share on other sites

So every little doesn't help?

Every little helps but not if you can't get access to it when say they reduce the guaranteed limits again - for example - or some other banking twist.

Edited by billybong

Share this post


Link to post
Share on other sites

I wouldn't discourage anyone from putting money in a Tesco account

If you have access to the internet from the institution that you are surely living in if you are considering to patronise Tesco with your custom, you go for it

:P

Share this post


Link to post
Share on other sites

The link below dated 21 August 2014 gives some total savings figures


http://

www.lloydsbankinggroup.com/Media/Press-Releases/2014/lloyds-bank/uk-household-savings-rise-by-500-in-the-last-40-years/

UK household savings now stand at an estimated £3,545 billion, compared to £555 billion in 1974, in today's prices.

So an extra 1% on all UK savings would amount to about £35 billion a year or about £13 billion a year if it was only on deposit savings. Out of the £375 billion QE it must be possible to increase interest rates to some extent using some of the massive amount of QE money that has benefited them - even if not the full 1%. Rather than pure helicopter money - but the banking system just isn't prepared to relinquish some of the QE money to help to stimulate and benefit the UK economy..

Edited by billybong

Share this post


Link to post
Share on other sites

Why not just put it in a mix of P2P lenders? You can get excellent rates and a lot of them now have insurance, provision funds to cover losses and most loans are secured against property. Ok, they are not covered by the FSCS but at the moment you are only covered for £85k (down to £80k in January) and not even sure how secure or how long it would take to get money back if a bank collapsed.

Share this post


Link to post
Share on other sites

5yr Tesco corporate bonds yield close to 4% p.a. if you can find a broker to buy them for you (and not rip you off with the dealing spread). So there's a yield pick-up and exit option if you like the name.

Share this post


Link to post
Share on other sites

Why not just put it in a mix of P2P lenders? You can get excellent rates and a lot of them now have insurance, provision funds to cover losses and most loans are secured against property. Ok, they are not covered by the FSCS but at the moment you are only covered for £85k (down to £80k in January) and not even sure how secure or how long it would take to get money back if a bank collapsed.

Actually it's £75K from next year.

We're spreading our money around to stay within the FSCS limit. As for security, I doubt that the government would let anyone be out of pocket when they only have to print a bit more money to cover any shortfall.

Share this post


Link to post
Share on other sites

Actually it's £75K from next year.

We're spreading our money around to stay within the FSCS limit. As for security, I doubt that the government would let anyone be out of pocket when they only have to print a bit more money to cover any shortfall.

which...in fact...puts u out of pocke5...massively.

Share this post


Link to post
Share on other sites

which...in fact...puts u out of pocke5...massively.

No more than it would if I kept my money under the mattress as they would still be printing to cover everyone else's deposits under the FSCS limit.

Also, deposits below the FSCS limit will not be subject to any future bail-ins (as confirmed in writing by the BoE to one of our members).

Edited by Bruce Banner

Share this post


Link to post
Share on other sites

5 years 2.80% 2.76% 2.24% 2.21%

http://www.tescobank.com/savings/fixed/fixed-rate-saver/index.html

Happy days.

The rich get richer the debtors keep paying more.

Remember Einstein ? Quite a clever bloke, good with numbers and adding up and all that jazz....well some clever bloke quoted this to me last week ( and I can assure you it is true ).

Albert Einstein > Quotes > Quotable Quote

9810.jpg
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

Not a recommendation but RateSetter 5 year lending market currently at around 6.4%. I'm personally fairly heavily into the 3 year market which is currently around 5.5%.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   28 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.