The Abbey National is making a one year fixed rate bond available for a limited period, with an interest rate of 6.75 percent.
To earn this high rate the bond needs an investment of at least GBP30,000, though anything from GBP1 upwards to that figure will still return a very attractive 6.35 percent. The Abbey National investment bond is on limited availability, with a window of less than a month to get money into it. Starting on August 4 the offer closes at the end of August.
The market really likes fixed rate savings bonds said an Abbey National spokesperson, hence their introduction of this particular one now. Anyone interested is advised to act quickly to ensure availability.
Egg, best known for the Egg credit card has just introduced a new bond that is linked to the FTSE100 performance over the next 3 years.
Called the FTSE 26 percent guaranteed equity bond, Egg card customers who invest in it will enjoy FTSE 100 index gains made over and above the starting level of the bond up to a maximum of 26 percent. Should the index finish lower than the starting point of the investment then customers are guaranteed the whole of their capital invested back.
An Egg card spokesman suggested the investment bond would suit customers who are naturally cautious but would like the chance to earn a higher return than that offered by simple deposit accounts.
A new survey by Saga Insurance has found that the grown up children of elderly parents may well end up financing their parents long term care from what was their inheritance.
As a company that works exclusively with the over 50’s Saga Insurance took the opportunity to discuss their plans and found that only 10 percent of people have actually discussed long term care for elderly parents. More worrying still perhaps is that nearly half of them fail to appreciate the actual costs, which are around GBP25 – 30,000 per year.
The view of nearly 60 percent of those who discussed the matter with Saga Insurance is that any inheritance will be used to finance the long term care parents may need. A large part of this may be that, with all the other financial pressures on people, trying to put aside money for parental care is just not possible, at least for the majority of the population.
