tag:blogger.com,1999:blog-7872493581238440851.post5254127511274253377..comments2024-03-15T05:41:57.261+00:00Comments on Frugal Blog: Back to how frugal can frugal living be? And a new 8% interest rate!NYK in Frugaldomhttp://www.blogger.com/profile/01702184851369212088noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7872493581238440851.post-11402574269324699622010-11-08T12:21:26.149+00:002010-11-08T12:21:26.149+00:00Money spin doctors R us. Zopa and Funding Circle l...Money spin doctors R us. Zopa and Funding Circle look better but still not too sure of how their costs balance out over the year or what happens if you lend to a small company that ends up in liquidation. Reckon I'll be checking the Premium Bonds for a bit longer and perhaps looking at some limited edition type investments.NYK in Frugaldomhttps://www.blogger.com/profile/01702184851369212088noreply@blogger.comtag:blogger.com,1999:blog-7872493581238440851.post-15205196600164715062010-11-05T16:30:38.387+00:002010-11-05T16:30:38.387+00:00So basically it works if you are already a FD user...So basically it works if you are already a FD user who has some money to save into a second account, but if you're not they would wipe out your accrued interest with a £10 per month charge.<br /><br />Basically it's a headline and nothing else, isn't it :(Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7872493581238440851.post-10061689008946333562010-11-05T16:00:56.080+00:002010-11-05T16:00:56.080+00:00Hi KB, fancy seeing you here. LOL
The Ts & Cs...Hi KB, fancy seeing you here. LOL<br /><br />The Ts & Cs of the account were what I didn't like, particularly the following paragraph relating to them:<br /><br />"... you should bear in mind that First Direct offers online telephone banking only. So if you prefer the option of in-branch service you will have to look elsewhere. Those who earn less than £1,500 a month, or who don’t want to pay their monthly salary into their 1st account might also want to think again as First Direct will charge £10 per month to run your 1st account if a minimum of £1,500 is not paid into it each month..."<br /><br />No good for me as I prefer online banking so I can see at any given time what's going on, plus I wouldn't be paying in £1,500 per month, for very obvious reasons. Yet another example of money going to money, especially getting the free £100. I don't mind putting in a bit of effort to make my money work harder but frugal living means being able to take advantage of the best deals at the drop of a hat.NYK in Frugaldomhttps://www.blogger.com/profile/01702184851369212088noreply@blogger.comtag:blogger.com,1999:blog-7872493581238440851.post-22086458213974353752010-11-05T14:41:31.655+00:002010-11-05T14:41:31.655+00:00I've seen similar type accounts previously. On...I've seen similar type accounts previously. On the face of it, it's not a bad deal, butclose inspection shows it is spoiled by the limit of £300 per month for only 12 months. Sure it's a better interest rate than most, but at the end of the day it'll only net you £156 pounds in gross interest maximum. No to be sneezed at, for sure, but a fair amount of effort bearing in mind you'll need to move your money on after 12 months when the interest rate will revert to something awful. If you could stick a grand a month in, or even more, that would make it pretty attractive. I guess it comes down to how much effort you want to put in to making your dosh work hard. :)Anonymousnoreply@blogger.com