mogish
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Post by mogish on Jul 18, 2023 9:38:48 GMT
LP v Fixed banks bonds is negligible. 60 days notice V fixed term is the only slight advantage. LP need to up thier rates a bit more as the risk V reward makes banks more attractive.
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Post by Ace on Jul 18, 2023 9:45:01 GMT
LP v Fixed banks bonds is negligible. 60 days notice V fixed term is the only slight advantage. LP need to up thier rates a bit more as the risk V reward makes banks more attractive. 60 day notice and not having to constantly switch banks to chase rates is a major advantage for me.
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ashtondav
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Post by ashtondav on Jul 18, 2023 11:19:44 GMT
Quite so, Acey. And the LP offer may increase while the fixed is fixed. Although the counter argument is that rates may decline in a year or two with inflation so fixing at 5%+ may look attractive
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mogish
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Post by mogish on Jul 18, 2023 19:30:40 GMT
Quite so, Acey. And the LP offer may increase while the fixed is fixed. Although the counter argument is that rates may decline in a year or two with inflation so fixing at 5%+ may look attractive Prob why it's best to have a bit in both! My 6% tax free in LP isa is very acceptable at the moment. 👍
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Post by davefoz on Jul 19, 2023 14:07:14 GMT
Chip 4.51% vs loanpad 4.8%
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firedog
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Post by firedog on Jul 26, 2023 10:32:04 GMT
New Loanpad rates announced, in addition to the 1 August rise previously flagged. The changes take the top, 60-day notice account up to 6.2%.
From 15 August: Classic / ISA Classic 5.1% Premium / ISA Premium 6.1%
From 29 August: Classic / ISA Classic 5.2% Premium / ISA Premium 6.2%
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Post by scepticalinvestor on Aug 9, 2023 4:16:43 GMT
Top FSCS protected true easy-access savings account is now paying 5%, from Tandem! Pretty slick app as well, one-step deposits/withdrawals that only take a few minutes ti go through. www.moneysavingexpert.com/savings/savings-accounts-best-interest/#easyaccess. Crazy. I’m struggling to see how Tandem makes any money out of this offering, surely they’re going to get flooded with retail funds and everything that that entails.
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Post by scepticalinvestor on Sept 4, 2023 12:49:06 GMT
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Post by Ace on Sept 4, 2023 13:18:10 GMT
Creeping closer to Loanpad's 5.34% AER equivalent, but better value given the FSCS protection. Time for another announcement from LP methinks. I doubt the santander offer will be there for very long, so will probably need to act fast if you want it.
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Post by Badly Drawn Stickman on Sept 4, 2023 16:18:21 GMT
Creeping closer to Loanpad's 5.34% AER equivalent, but better value given the FSCS protection. Time for another announcement from LP methinks. I doubt the santander offer will be there for very long, so will probably need to act fast if you want it. Given the mythical 5.34% is probably unachievable due to the £10 lumps needed for investment and the effective dead day before funds are invested initially, I would suggest it is a very slim margin in reality for even a 'nuclear proof' investment with no protection. The 60 day rate is borderline (and I would assume where the bulk of investments are), but jam tomorrow increases will be unlikely to change the scenario much.
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Post by Ace on Sept 4, 2023 17:04:06 GMT
Creeping closer to Loanpad's 5.34% AER equivalent, but better value given the FSCS protection. Time for another announcement from LP methinks. I doubt the santander offer will be there for very long, so will probably need to act fast if you want it. Given the mythical 5.34% is probably unachievable due to the £10 lumps needed for investment and the effective dead day before funds are invested initially, I would suggest it is a very slim margin in reality for even a 'nuclear proof' investment with no protection. The 60 day rate is borderline (and I would assume where the bulk of investments are), but jam tomorrow increases will be unlikely to change the scenario much. Not too mythical. A £10k investment would still achieve 5.33%. Even a £1k investment would achieve 5.31%.
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rscal
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Post by rscal on Sept 4, 2023 17:58:25 GMT
Given the mythical 5.34% is probably unachievable due to the £10 lumps needed for investment and the effective dead day before funds are invested initially, I would suggest it is a very slim margin in reality for even a 'nuclear proof' investment with no protection. The 60 day rate is borderline (and I would assume where the bulk of investments are), but jam tomorrow increases will be unlikely to change the scenario much. Not too mythical. A £10k investment would still achieve 5.33%. Even a £1k investment would achieve 5.31%. I don't bother with reinvestment and just let the interest collect (at '0%') until LP transfers it as a block to my bank each month - which is a really nice feature I find. (Is there an auto invest function to take up daily interest once it exceeds £10 then?)
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firedog
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Post by firedog on Sept 4, 2023 18:28:08 GMT
Not too mythical. A £10k investment would still achieve 5.33%. Even a £1k investment would achieve 5.31%. I don't bother with reinvestment and just let the interest collect (at '0%') until LP transfers it as a block to my bank each month - which is a really nice feature I find. (Is there an auto invest function to take up daily interest once it exceeds £10 then?) Yes, you can set it to either go into the standard or 60-day account automatically.
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Post by birdie on Sept 5, 2023 7:13:26 GMT
Not too mythical. A £10k investment would still achieve 5.33%. Even a £1k investment would achieve 5.31%. I don't bother with reinvestment and just let the interest collect (at '0%') until LP transfers it as a block to my bank each month - which is a really nice feature I find. (Is there an auto invest function to take up daily interest once it exceeds £10 then?) Just to add that all money invested or waiting to be invested earns interest. Cash awaiting investment - - - £***.84 - -
Please note that 'cash awaiting investment' represents your share of the cash held within the Loanbook. Interest is also earned on these funds.
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firedog
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Post by firedog on Sept 5, 2023 8:36:16 GMT
Presume rscal means that the sub-£10 amount doesn't earn interest – it's only when it goes above that amount that it can shift to interest-bearing.
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