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Investments in Banks.
Member rating: No Rating | Words: | Submitted: Thu Oct 16 2003
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MEMORANDOM TO: Miss Booth FROM: Fareeda Begum DATE: 3 March 2003-02-03 Investments in Banks. You have asked me about investing your recent winnings in a bank account or a trust with competitive interest rates. I have collected a wide variety of accounts from different types of banks and alternative ways of saving your money in the best possible way. My findings are below: The Loughborough Building Society Account: Loughborough Bond II Interest rate: 3.68% Net p.a annually for £100,000 or more. Key Features: * 2 year term account. A letter is sent to you advising of re-investment terms shortly before maturity. * Minimum investment £5000 * No withdrawals in year 1 but allowed in year 2 subject to 90 days notice or 90 days interest lost. * Additional amounts can be invested anytime. * Interest paid annually on December 31st or monthly as an income. Lloyds/TSB Account: 90 Day Notice Account Interest rate: 2.32% Net p.a annually for £100,000 or more Key features: * Minimum investment...
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