Santander 3 Year bond (with cash up front)
Discussion
Having just seen this on tv, it sparked my curiosity.
3 year fixed bond, all interest paid up front (no withdrawals or additions allowed but that's standard with this kind of thing I believe)
For every 12k you put in, they give you £1000, so for someone like my grandparents with £60k to put away, this gives them £5k upfront which they can then put in a cash ISA for if they need it.
Am I missing something? Where's the catch?
The rate doesn't look particularly low compared to what others are offering....
3 year fixed bond, all interest paid up front (no withdrawals or additions allowed but that's standard with this kind of thing I believe)
For every 12k you put in, they give you £1000, so for someone like my grandparents with £60k to put away, this gives them £5k upfront which they can then put in a cash ISA for if they need it.
Am I missing something? Where's the catch?
The rate doesn't look particularly low compared to what others are offering....
IrrElephant said:
Am I missing something? Where's the catch?
The rate doesn't look particularly low compared to what others are offering....
There is no catch. But...The rate doesn't look particularly low compared to what others are offering....
Even if you invested all the money you get back upfront you would only then get the same amount back at the end of it as if it paid interest along the way so makes no difference.
Why not just invest less money to start with and not be tied in.
It is just a ploy to make people think they are getting money for nothing.
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