25 Apr 2018

A question about : Lambeth's taking care of you.

Lambeth opened a three year escalator bond which matures on 15 Jan 2005.
The interest rate was to be 4% in year one, 5% in year two and 6% in year three.
You might think that after three years you would get your money back.
However if you had read all the terms and conditions you would have found this little gem among them

At the end of the term, funds are not automatically repaid, but remain available for withdrawal at 90 days notice. You must give notice by 16th Oct 04 if you want your money back when the bond matures.

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    Category: 
    Savings & Investments
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