BLME - any experiences?
Discussion
Looking to put a chunk of cash in a longish term bond. At the moment its in various high street banks doing nothing much.
Most 4-5 year bonds are paying 3-3.5%
Bank of London and Middle east are paying 4.8%
Not alot of info about them out there, just wondered if anyone has had any dealings with them, are they seen as a safe bet? The money can be tied up but it's not an amount I can risk, so higher return investments/shares/lending are a no-go. This seems the best way to see nearly 5% with FSCS cover?
Also what are the views on their "projected profits" instead of fixed interest. I assume this is just a way of getting around the sharia "no interest" lending rules?
Thanks
Most 4-5 year bonds are paying 3-3.5%
Bank of London and Middle east are paying 4.8%
Not alot of info about them out there, just wondered if anyone has had any dealings with them, are they seen as a safe bet? The money can be tied up but it's not an amount I can risk, so higher return investments/shares/lending are a no-go. This seems the best way to see nearly 5% with FSCS cover?
Also what are the views on their "projected profits" instead of fixed interest. I assume this is just a way of getting around the sharia "no interest" lending rules?
Thanks
Bank of London and The Middle East are FSA authorised and FSCS covered – so it looks like the best rate to me – www.blme.com
They were in the Telegraph personal finance pages recently. It is anticipated profit as they don’t guarantee it. But if they don’t hit the profit rate they repay all of your deposit with the anticipated profit rate up to that date. They have always paid the profit rate they quoted.
They were in the Telegraph personal finance pages recently. It is anticipated profit as they don’t guarantee it. But if they don’t hit the profit rate they repay all of your deposit with the anticipated profit rate up to that date. They have always paid the profit rate they quoted.
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