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Don’t let your savings languish in low interest accounts…
At Buy2LetCars, we are always keeping an eye out for opportunities that will benefit investors at a time when interest rates are so low and the opportunities to make a good return are few and far between.
The Daily Mail recently reported that banks have many older customers (around the age of 61) leaving large sums of money languishing in current accounts that pay little or no interest – an average of £33,000 in their current account and £17,000 in a savings account, this according to research by the Financial Conduct Authority. This money should be working harder. By contrast, Buy2LetCars delivers up to 11% interest, and the opportunity is open to anyone, not just the over 60’s.
Let’s say for example you have £56K to invest. Upon investing, B2LC customers will receive monthly payments of £1,022.76 for the first three years, and then a gross final payment of £32,764 in month 37 – an amazing 10% interest – beating any bank’s interest rates. The gross interest gain over the 3 years is a colossal £13,583.36.
Banks are essentially cashing in on customers who keep more money in current accounts that don’t earn any interest, thereby earning the banks the most profit! Banks profit from eight in ten customers, says the FCA, which studied the UK’s 73million accounts.
Most current accounts offered by major banks such as Barclays, Halifax and HSBC are free to use if customers are in credit, but pay no interest.