Tag Archives: term
Unsecured loans calculator: assured funds with feasible terms
It is not always that you look for financial assistance in the form of loans. In most cases, you avail loans only when the prevailing circumstances demand and you dont seem to have any other option. If by any reason, you are not in a position to pledge collateral and you need the funds for a relatively short term period, then you can certainly opt for the unsecured option. But availing these loans without giving any second thoughts may ruin your financial stability. It is in situation like these that you can opt for the unsecured loans calculator.
These loans, as a matter of fact do not require any collateral for its approval, as the funds are made available for a relatively short term period. The loans are also highly beneficial for applicants such as tenants and non homeowners, who can easily acquire the funds to overcome financial hassles. As per the need and requirement, one can derive any amount in the range of £1000-£25000, which then has to be repaid over a period of 6months- 10 years. In the case of these loans, the loan amount is more or less released after assessing the income and prevailing circumstances of the loan applicant.
As the loan amount is released against a relatively short term period, the interest rate charged is marginally high. It is mainly done to the element of risk faced by the concerned lenders, by approving the funds without any adequate security. This makes a bit expensive option, as the applicants have to pay more than what they had availed in real essence.
However by making use of the calculator, it is now possible for the same applicants to acquire the loans with viable terms and conditions. The calculator is designed to assist the applicants, so that they can avail the best deals that suit their prevailing circumstances. This is how one can grab suitable offers, without having to face too many hassles.
So, with unsecured loans calculator, one can definitely grab the loans with the sophisticated offers and that too without any hassles.
Fixed Rate Bonds vs. ISA's (Page 1 of 2)
It is difficult to know where to put your money these days to get the best returns, especially with the way the economy has suffered over recent months, pushing the Bank of England to make a string of cuts to its Base rate which have in turn been passed on to savers rates.
With the Base rate now down to the lowest level ever recorded, rates on normal savings accounts have been slashed, which has limited our saving options.
The two obvious choices in today’s savings market are Fixed Term Bonds, and Individual Savings Accounts (ISA). Although both types of savings accounts have their similarities, there are several advantages and disadvantages to each and it is this topic of discussion that this article will be focussing on.
Fixed Term Bonds
Fixed Term Bonds provide a rate that is fixed throughout the duration of the bond, giving savers a predictable income with no surprises. Once you have chosen a fixed term account, you are able to calculate exactly how much interest you will earn, minus the tax, to give you your end balance.
Most Fixed Term Bonds offer very high deposit limits, generally between £500,000 to £2 million, but some, such as ICICI, will let you invest as much as you like. You must deposit the full amount upon opening the account and cannot add to this once active.
There are no limits to how many fixed term bond accounts you can open within any one year, so unlike ISA accounts, if you decide to close your account for any reason, you can still invest any amount elsewhere at any time.
Fixed Term Bonds generally offer the highest saving rates available, but these tend to be on shorter-term bonds, as they carry less risk to significant rate cuts leading to banks and building societies paying you over the odds in interest for long periods of time.
‘What goes up must come down’
If you are extremely lucky and do your research, you could open a fixed term bond before rates significantly fall, allowing you to earn well above savings rates offered to new and variable rate customers. If you cast your mind back to October last year, when the Base rate stood at 5%, you would be very happy with yourself if you were earning this kind of rate on your savings today, with the Base rate now at 0.5%.
A big element to a fixed term bond account is the “fixed term”. You must be realistic with your finances and only go for this option if you can afford to lock your money away for some time. If you find that you need to withdraw any amount from your account, the bond will close and in most cases you will lose any interest to accumulated to date.
As well as the possibility of rates falling during the life of your bond, you could see the opposite effect, with rates significantly rising, leaving you locked in at a low rate. It is always a good idea to look at recent trends in Base rate changes to enable you to make an educated prediction on the direction it’s headed. Many economists believe that rates will continue to fall during 2009, going as low as 0%.