banking question
Thread Starter
Joined: May 2003
Posts: 50,018
Likes: 259
From: Little India
is there a site where i can put in the ammount of money i want to save as a lump sum, put in a timescale for it to be locked away for, and a fixed intrest rate it's going to get over the dutation?
thank you please
i know what i will get if it's property but just want to see the comparison in the bank
thank you please
i know what i will get if it's property but just want to see the comparison in the bank
Best bet these days in my opinion would be to put it in some government scheme like bonds or even national savings. About as guaranteed as you can get these days.
http://www.nsandi.com/
Something like a guaranteed growth bond?
http://www.nsandi.com/savingneeds/guaranteedreturns.jsp
http://www.nsandi.com/
Something like a guaranteed growth bond?
http://www.nsandi.com/savingneeds/guaranteedreturns.jsp
Thread Starter
Joined: May 2003
Posts: 50,018
Likes: 259
From: Little India
it's an investment op in india mate,
i've got Ł150k with which i can either buy a house and get Ł4k a year in rent after everything is sorted for 10 years, in which time the price would have gone up
or
i can put the money into a bank and get 12% a year on
obviously the bank is going to work out easy money, but proerpty prices have grown and grown and grown in india like nothing else if you are in the right spot, but being in the wrong spot means you are going to get a huge drop in some cases in the value
my uncles place is about 100 yards from the epicentre of the growth and it's worth about 1,000,000 Rs for his 400 square foot, the guy 5 streets down the road is getting a valuation of around 4,000 rs for the same 400 square foot plot
and there are 25 plots that seem to be making the bidding right now as on the up and up, unfortunatly i don't have Ł4mill to invest
i've got Ł150k with which i can either buy a house and get Ł4k a year in rent after everything is sorted for 10 years, in which time the price would have gone up
or
i can put the money into a bank and get 12% a year on
obviously the bank is going to work out easy money, but proerpty prices have grown and grown and grown in india like nothing else if you are in the right spot, but being in the wrong spot means you are going to get a huge drop in some cases in the value
my uncles place is about 100 yards from the epicentre of the growth and it's worth about 1,000,000 Rs for his 400 square foot, the guy 5 streets down the road is getting a valuation of around 4,000 rs for the same 400 square foot plot
and there are 25 plots that seem to be making the bidding right now as on the up and up, unfortunatly i don't have Ł4mill to invest
Thread Starter
Joined: May 2003
Posts: 50,018
Likes: 259
From: Little India
also, depending on who you go to, you can get between 75 and 85 Rs/Ł1 as an exchange rate, the more cash money you bring over, the higher the rate goes
Thread Starter
Joined: May 2003
Posts: 50,018
Likes: 259
From: Little India
not in india mate 
between 10 and 12%
the only problem is that with that sort of ammounts, i will have to pay tax on it so there is that side of things as well to consider, so it's a good job my uncles a bank manager
between 10 and 12%

the only problem is that with that sort of ammounts, i will have to pay tax on it so there is that side of things as well to consider, so it's a good job my uncles a bank manager
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