Ace
Member of DD Central
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Post by Ace on Jul 21, 2023 19:36:31 GMT
Kuflink have announced new rates for their auto invest products from 1st Aug 2023. Kuflink reported rates are grossly misleading, as previously reported here. For those who wish to compare Kuflink's rates with the honest rates quoted by other platforms, the true (AER/XIRR equivalent) rates are: | Term (years) | Kuflink stated rate | True AER | | 1 | 7.0% | 7.0% | | 2 | 8.32% | 8.0% | | 3 | 9.83% | 9.0% |
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Post by lotus_eater on Jul 22, 2023 9:03:32 GMT
Kuflink have announced new rates for their auto invest products from 1st Aug 2023. Kuflink reported rates are grossly misleading, as previously reported here. For those who wish to compare Kuflink's rates with the honest rates quoted by other platforms, the true (AER/XIRR equivalent) rates are: | Term (years) | Kuflink stated rate | True AER | | 1 | 7.0% | 7.0% | | 2 | 8.32% | 8.0% | | 3 | 9.83% | 9.0% |
I wonder if they are getting more business by advertising rates this way? For me it all just seems a bit underhanded & leads me to wonder what else they are "spinning". Starting to pull quite a bit out of P2P now and put it in a 6.2%, 2-year Vanquis savings bond I just opened. It's a little less than the Kuflink 2 year account, but I feel more comfortable that I will actually get it back in 2 years. 
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jnm21
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Post by jnm21 on Jul 24, 2023 0:55:23 GMT
Isn't it shocking though that inflation will have devalued your money, even if you risk P2P & are lucky!
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Ace
Member of DD Central
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Post by Ace on Jul 24, 2023 8:08:25 GMT
Isn't it shocking though that inflation will have devalued your money, even if you risk P2P & are lucky! CPI is widely forecast to be below these rates for all 3 of these fixed terms, and very substantially below for the 2 and 3 year product terms. Forecasts that far ahead don't tend to be particularly accurate, but they would have to be very wide of the mark for your money to devalue below the starting point for the 2 and 3 year terms.
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jnm21
Posts: 420
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Post by jnm21 on Jul 24, 2023 20:11:04 GMT
Really hope they are right - though I always thought RPI was more real world accurate - groceries are up there with death & taxes.
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