Interest rate and money question
Interest rate and money question
Author
Discussion

Grand Fromage

Original Poster:

1,518 posts

237 months

Tuesday 11th November 2008
quotequote all
I am looking at putting a sizeable chunk of money 'away' into a 'closed' account which offers a high level of interest because as far as I can work out, all my current bank has done to make me more money is bought some Goverment Bonds which I could have done my bloody self. Now I have spoken to one bank already and they have said they will tuck my money away for 18 months at a 6.5% rate. I only really want to go for 12 months but is this the kind of rate I should be saying yes to or can I get more?

Many thanks

mcflurry

9,190 posts

283 months

Tuesday 11th November 2008
quotequote all
With base rates down to 3% and LIBOR at 4.5ish% you will be lucky to get a better offer without risk for a while...

Grand Fromage

Original Poster:

1,518 posts

237 months

Tuesday 11th November 2008
quotequote all
But 18 months is a long time, interest rates should be looking much better than that in 12 months surely?

Fittster

20,120 posts

243 months

Tuesday 11th November 2008
quotequote all
Grand Fromage said:
But 18 months is a long time, interest rates should be looking much better than that in 12 months surely?
Ask someone in Japan how long interest rates can stay low after a property bubble. Trying to predict the future is for mugs.