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Jan
22
2003

Archive: MoneySavingExpert's Money Tips Email

22 Jan 2003: Plans, Loans and Automatic Discounts...
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Plans. Double stock market growth with limited capital risk
Keydata has relaunched it's special plan with pays double the returns of the FTSE-100 and even if the market drops, in most circumstances still pays back your initial capital. An update of the deal is available in the articles section

Loans. New cheapest on the market
There's a new cheapest personal loan provider out there. Lombard Direct has reduced its interest rates for online loans of over £5,000 plus to 6.9%. This is a cracking rate and for the first time undercuts the lowest rate offered by Cahoot. Remember though this rate only applies to the non-insurance loans - the cost of payment protection insurance isn't included in that and there's cheaper available.

If you are planning to borrow money for a smaller amount Lombard Directs rate rockets up. Northern Rock is still the cheapest for loans of below of 7.9%. If you want a loan with insurance depending on the value, both Nationwide online and Intelligent Finance vie for cheapest. When getting a with insurance loan – always ask “what is the total repayment” and compare this amount, don't rely on interest rates.

See the articles section for a full deal on loans

Automatic discount - Planning any big purchase get an automatic 5% off!
The Blue American Express card has a range of introductory cashback offers on at the moment. Either 2% cashback for the first three months followed by it's standard 1% rate or 5% cashback for the first month followed by 1% after that.

If you're about to make a big purchase, apply for the 5% deal and that's effectively an automatic 5% discount. ie. Buy a new laptop at £2,000 and you get £100 cashback on it automatically. Remember though - you will be charged interest unless you pay the card off in full.
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