Provident Bonds

Author
Discussion

Skyedriver

Original Poster:

17,918 posts

283 months

Sunday 5th February 2017
quotequote all
I have a Yahoo email address that usually has an ad at the top of the page for some useless anti aging cream or dating agency etc
This morning there was an ad for Provident Bonds offering 8% pa for 3 years.
Now financially that seems a good rate and steady option but my mind says scam or sort of scam.
Anyone any experience?

sidicks

25,218 posts

222 months

Sunday 5th February 2017
quotequote all
Skyedriver said:
I have a Yahoo email address that usually has an ad at the top of the page for some useless anti aging cream or dating agency etc
This morning there was an ad for Provident Bonds offering 8% pa for 3 years.
Now financially that seems a good rate and steady option but my mind says scam or sort of scam.
Anyone any experience?
Why do you think it is a 'steady' option?

Countdown

39,994 posts

197 months

Sunday 5th February 2017
quotequote all
Skyedriver said:
I have a Yahoo email address that usually has an ad at the top of the page for some useless anti aging cream or dating agency etc
This morning there was an ad for Provident Bonds offering 8% pa for 3 years.
Now financially that seems a good rate and steady option but my mind says scam or sort of scam.
Anyone any experience?
This one?

http://www.thisismoney.co.uk/money/investing/artic...

mikef

4,889 posts

252 months

Sunday 5th February 2017
quotequote all
Provident or Providence?

Not sure how Providence would still be advertising: Investigation into Providence Financial

Provident is a UK provider of industrial life insurance (at least that's the US term) and sub-prime lender

ellroy

7,048 posts

226 months

Monday 6th February 2017
quotequote all
OP I think you already have your answer, but why do people think you can have a free lunch?

The long term average run rate for developed market equities is likely to be in high single/low double digit returns. So how can anything promising 8% or so per annum be seen as steady?

How these non FCA protected pieces of crap can get promoted to the general public is beyond belief. Yet another sign that the regulators are asleep at the wheel I think.

Skyedriver

Original Poster:

17,918 posts

283 months

Monday 6th February 2017
quotequote all
Provident and it was a 3 year bond to fund a development by Essex & London or something. Cannot find the link to it now, it's gone onto selling holidays......