Wednesday, 13 September 2017

London Capital Finance ISA Savings Bond reviews

A company called London Capital and Finance are heavily advertising on various savings websites for what they call a savings bond with an interest rate of 8% and others have mistakenly called a London Capital Finance ISA.

As the websites hosting the adverts are promoting savings accounts it's important to be clear - the London Capital and Finance bond is not a savings account or an ISA and involves risk to your money. You could lose all the money you invest as it is not FSCS protected

London Capital Finance ISA Savings Bond reviews
London Capital Finance ISA Savings Bond reviews

The product offered by LCF appears to be genuine and not a scam but by promoting their product via savings websites they are misleading savers that this is a savings account and not a product that puts their money at risk.

Read the small print in the London Capital and Finance website and you can see that they admit that your money is at risk and that this is not a savings account. However the phrasing and words used in the adverts - 100% track record, fixed interest, FCA regulated - all appear to give the impression that the bond is secure. In reality it is based on loans to companies and you can lose ALL your money.

is london capital bond fscs protected?
is london capital bond fscs protected?

Friday, 12 May 2017

How to Earn 4.2% Interest on £15000 savings using Bank Accounts

Can you Earn Over 4% Interest on £15000 risk free?

After repeatedly trying to help readers of This is Money to get decent rates on their savings and repeatedly being told I'm lying that I can earn decent interest on £15000, I decided to spell out exactly how it can be done. You do need to open accounts but to get 10x the rate available on a cash ISA seems worthwhile to me. You can even use variations to suit the amount of money you have and even drop the number of accounts or regular savers if you want less hassle.

There are a number of current accounts paying interest, some vastly higher than any savings account. As of today, Tesco Bank pay 3% on £6000, TSB pay 3% on £3000 and Nationwide pay 3% or 5% depending on the account but £2500 in each account. For a couple you can do even better and get £7500 at 5% with Nationwide for 1 year.

Regular saver accounts

There are some savings accounts where you commit to paying a regular amount each month and the bank will pay a high rate of interest on the money. Some people think incorrectly that the interest rate is reduced but this is untrue. You get exactly the interest rate stated but only on the money in the account. Why would a bank pay interest on money you haven't deposited with them?

There are regular saver accounts with HSBC, M&S Bank and Nationwide that all pay 5%. If these are combined with the current accounts above then you can earn 4.2% on £15000 by moving money from 3% to 5% over the year. If you maximise the current accounts too then you can get more than £15,000 in the accounts by the end of the year - the total you could have at the end of the year would be £27,000 all earning good interest of 3% or above.

If you feed money into the 5% regular saver accounts from a current account paying 3% then the average that you get over the year will be just over 4%. Obviously all this depends on you having the money in the first place but if you have the £2000 or less that 70% of the UK population have in savings then you can get 5% on this whole amount with Nationwide Building Society.

The accounts and interest are shown in the table below:

1 2 3 4 5 6 7 8 9 10 11 12
Interest Rate
Nationwide 5 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500
TSB 3 1500 1250 1000 750 500 250 0
TSB 3 1500 1500 1500 1500 1500 1500 1500 1250 1000 750 500 250
Tesco 3 3000 2750 2500 2250 2000 1750 1500 1250 1000 750 500 250
Tesco 3 3000 2500 2000 1500 1000 500 0
Nationwide 3 2500 2500 2500 2500 2500 2500 2500 2000 1500 1000 500 0
HSBC 5 250 500 750 1000 1250 1500 1750 2000 2250 2500 2750 3000 £81.58
Nationwide 5 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 £163.00
M&S 5 250 500 750 1000 1250 1500 1750 2000 2250 2500 2750 3000 £81.58
15000 15000
Nationwide £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £10.42 £125.00
TSB £3.75 £3.13 £2.50 £1.88 £1.25 £0.63 £0.00 £0.00 £0.00 £0.00 £0.00 £0.00 £13.13
TSB £3.75 £3.75 £3.75 £3.75 £3.75 £3.75 £3.75 £3.13 £2.50 £1.88 £1.25 £0.63 £35.63
Tesco £7.50 £6.88 £6.25 £5.63 £5.00 £4.38 £3.75 £3.13 £2.50 £1.88 £1.25 £0.63 £48.75
Tesco £7.50 £6.25 £5.00 £3.75 £2.50 £1.25 £0.00 £0.00 £0.00 £0.00 £0.00 £0.00 £26.25
Nationwide £6.25 £6.25 £6.25 £6.25 £6.25 £6.25 £6.25 £5.00 £3.75 £2.50 £1.25 £0.00 £56.25
Average Interest 4.2% Total Interest Paid £631.16

Sunday, 26 March 2017

London Capital & Finance Reviews - Is it Real or a Scam?

You may have seen adverts for London Capital & Finance offering excessively high rates for what are claimed to be savings accounts.

The motto "if it seems too good to be true it probably is" has never been more appropriate. London Capital & Finance may not be a scam but it certainly isn't offering a savings account. It's not FSCS protected and you could lose ALL your money.

The advert claims London Capital Finance is a savings account, it isn't! It's a loan to a company that may not pay it back. Read closely and it says your capital is at risk

Wednesday, 15 February 2017

8% Interest Deposit Scam?

On almost a daily basis there are posts on MSE about an 8% bond where you could lose 100% of your money yet posters are ignoring the risk warnings and assuming it is a savings account.

But back in 1998 you could get 8% on instant access account with Egg!

Tuesday, 10 January 2017

Evidence of Ancient Advanced Civilisations

I write a number of blogs and it was hard to decide where this one should appear as it's not really on the theme of any of them. I've been interested in history for some time and fascinated by how our civilisation developed so some recent discoveries have been a real eye opener about our past. As a result it seemed a good idea to put some details together for my own benefit as much as anyone else to try to clarify things that are facts, scientific theories and pure speculation to try to put some order to them. I'll be adding to this over time so check back for any updates and feel free to comment if there are things you disagree with or I've missed out.

Is there any Evidence for Ancient Advanced Civilisations?

Civilisations as we understand them are believed by mainstream archaeologists to have begun around 5000BC. However, is it possible that advanced civilisations existed before this time and we have yet to find any evidence or understand the evidence we already have?

To try to assess the information I've grouped items into 3 headings.

Facts Beyond Dispute

Sea levels are much higher now than 10,000 years ago
Much of the planet has a very different climate to 10,000 years ago
Gobekli Tepi was used around 12,000 years ago, possibly as much as 15,000
Pyramids of Giza are aligned to exact compass directions
Many species became extinct around 12000 years ago especially in North America
Method of building the Pyramids is unknown
Date of construction of Sphinx is unknown
Asteroid or comet impacts have occurred in the past
Cave paintings have been dated to around 35,000-40,000 years ago
Jomon people in Japan
Harrapan/Indus Valley in India
Doggerland/Mesolithic Star Carr Lake Flixton 9000BC

Scientific Theories

Earth was hit by a comet or meteorite around 12000 years ago in North America
The Sphinx is aligned to the constellation Leo
The Pyramids of Giza are in scale to the circumference of the earth (Fact but coincidence or not?)
Ancients had no knowledge of astronomy or maths
The first civilisations began around 6000 years ago

Disputed Theories from Extrapolated Data

Weathering on the Sphinx indicates it was built when water flowed. This would be at least 8000 years ago.
The Sphinx is aligned to the constellation Leo which implies building 10,000 years ago
The Pyramids of Giza are in scale to the circumference of the earth and this was planned by the builders