Is This The Best A Bank Or Building Society Can Do?
The Guardian reports that the Leeds Building Society is offering a ten-year bond, which locks your money away for just four percent interest. The Guardian says this.
Leeds Building Society has launched the account, a fixed-rate savings bond offering a rate of interest that is eight times the Bank of England base rate and almost double the current rate of inflation. But it is not an account for money you may need in a hurry; customers have to agree to tie their money up for 10 years, until 31 December 2023, with no withdrawals of capital allowed during the term. And the minimum amount that can be put into the account is £10,000.
It certainly is not for me, as I get more than that, with the ability to retrieve my interest from Zopa.
But it does seem that no bank or building society, offers a better deal!
The Anonymous Widower 
It is the sort of thing we would have considered for the money the girls were left when they were children.
Comment by nosnikrapzil | November 20, 2013 |
The rate is probably a lot less than it was then!
Comment by AnonW | November 20, 2013 |