Major Site Upgrade in Progress |
 |
|
 |
|
Frugal
Junior Saver
Joined: 06 Feb 2005
Posts: 55
Cash Points ££ 84.96
|
|
|
 |
|
 |
|
 Posted: Sun Feb 19, 2006 4:19 am Post subject: Bradford & Bingley launches 10% Christmas Saver |
 |
|
|
 |
|
 |
|
|
|
|
There might have been hundreds of bargains in the shops this Christmas but many of us are still recovering from the shock of opening our credit card bills at the end of January.
The average person is expected to have spent* around £330 on gifts and the average household approximately **£920 on Christmas Day celebrations.
Bradford & Bingley is urging people to ease the pressure of the 2006 festive season by saving for it now and throughout the year. And to help customers take the stress out of finding the cash to pay off their debts after the shopping frenzy the bank has launched its specially designed, limited issue Christmas Saver account paying a market leading 10% gross pa (AER 8.00% net).
Customers interested in opening one of these market-leading accounts should visit their local Bradford & Bingley branch. Once opened they can put away between £10 and £150.00 each month and withdraw their savings and interest on the first day of advent (1st December 2006) in time to go shopping, or keep it to pay off their credit card bill in January.
Key features of the product include:
The minimum amount needed to open an account is £10.00
You must make a contribution each calendar month
The maximum balance is £1,500
Interest will be paid when the account matures on 1st December 2006
No withdrawals are permitted before the account matures
Interest will be credited to the account
Steve Potter, head of savings at Bradford & Bingley, said: "Choosing the ‘spend now, pay later’ way that many of us do can be costly. For example, if a customer spent £900 on their credit card last Christmas and then pays the minimum-monthly payment, which is typically 5% at 16% APR, they will take 64 months to pay off their debt and will end up paying out £288.74 in interest. This is a false economy. Arranging a regular savings plan could take much unneeded stress out of Christmas.
"We hope to encourage people to put some money away each month for big expenses like Christmas and see them rewarded with a really good interest rate. By taking advantage of this account we hope savers will be able to relax more next December knowing how they will pay for their celebrations."
To obtain more information on the Christmas Saver visit any Bradford & Bingley branch, call free on 0800 11 33 33 or visit www.bradfordandbingley.co.uk
* Figures provided by the British Retail Consortium – BRC Christmas Facts and Figures published on 12th December 2005
** Figures provided by the British Retail Consortium – BRC Christmas Facts and Figures published on 12th December 2005 |
|
|
|
|
|
|
|
Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
|
|
|
|
|
|
|
| Posted: Sun Nov 26, 2006 12:01 am Post subject: |
|
|
|
|
|
|
|
|
|
|
Yes it was a very good idea, especially when compared to the likes of the Farpak disaster !
Where instead of earning interest people ineffect were giving that company an interest free loan !
And as we found out the money was NOT ringfenced, hence all lost ! |
|
|
|
|
|
|
 |
Online Finance Tools & Calculators |
 |
| Credit Score Calculator |
Easy to use online Credit Scoring tool - Calculate your credit score now online for FREE ! using the Moneyforums.co.uk credit scoring tool. Also TEN Tips on improving and mainting a good credit rating ! |
|
| Quick Health Calculator |
Easy to use quick health calculator to help you get started on the path to fitness. Calculates your body mass index (BMI). |
|
| "When will I die ?" Calculator |
Calculate when will you die based on your current life style and then more importantly what you can do about extending your lifespan ! |
|
| Mortgage Calculator |
Easy to use online Mortgage calculator tool - Calculate how long it will take to pay off your mortgage and what your monthly repayments will be as well as interest charged per month per each year. |
|
| Savings Calculator |
Use the flexible savings calculator to estimate the amount of interest you would earn given a level of monthly savings, with many optional settings. |
|
| UK Tax Calculator |
Check your tax and NI liability using this easy to use online tool. Outputs, Tax, Ni, Net pay and gross pay on an annual, monthly and weekly basis, also estimates your tax burden and the number of days a year you work for the tax man ! Plus lots of tax saving tips. |
|
|
 |
|
 |
|
Money
Forums Guides |
|
| Credit
Card Stoozing |
The
following guide explains the basics of credit
card stoozing in a step by step basis. |
|
| Discount
Vouchers |
Online
discount vouchers giving upto
50% off in stores such as Dixons,
Tesco, Avon, Currys, Boden and more. Many
of the vouchers are time limited - So check
back regularly |
|
| Money
Saving Guide |
Guide
to saving money on household bills & personal
finances - Start saving thousands of £'s
every year TODAY ! |
|
| Savings
Tree |
A
guide to Savings Accounts, from Cash ISA's to
Regular Savers to Premium Bonds, all explained
in an easy to understand manner. |
|
|
Users
Groups | Profile
| Messages
| FAQ | Sponsers
& Links | Member
list | Recommend this site | Top Money Saving Sitee
© 2004 - 2007 Moneyforums.co.uk / Market Oracle Ltd - Asserts copyright on all topics & posts made on this site. Moneyforums are open forums, and thus posts are NOT endorsed by Moneyforums.co.uk / Market Oracle Ltd . Any and all information provided within the Website is for general information purposes only and nor is or shall be deemed to constitute, financial or other advice. We recommend that independent professional advice is obtained before you purchase any product and/or service. All tools and guides are provided as is for general information purposes only.
|
|
