We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Is the NS & I worth sa\ving with?
Stavros_3
Posts: 1,288 Forumite
I have 150K savings in 2 banking institutions and the £35k safety net has got me thinking. Is it wort looking to put it in one of the NSI products or not, if so which one. I can't really be arsed spreading my savings around 5 different banks, your info and advice is much appreciated,
Liquidity is when you look at your investment portfolio and **** your pants
0
Comments
-
Have you got any Index Linked Certificates from NS+I? These are very good, especially if you are a high rate tax payer.
Ideally you are tying money up for 3 or 5 years, but after 12 months you can cash it in if you really want.
Rates are RPI inflation rate + a set additional percentage.
Worth a look.0 -
both the 3 and 5 year fixed index linked certs pay 0.7% above RPI over the period - you are allowed to invest a maximum of £15000 per issue and it is tax freeKeep the Faith:cool:0
-
both the 3 and 5 year fixed index linked certs pay 0.7% above RPI over the period - you are allowed to invest a maximum of £15000 per issue and it is tax free
How does the rates compare to Internet savings accounts?Liquidity is when you look at your investment portfolio and **** your pants0 -
depends on what the RPI is at any time as can change - currently 4.2 I think - also depends if you are a lower or higher tax payer?Keep the Faith:cool:0
-
20% tax payer, so I have 150K that I don't need to touch for 2/3 years where is best for it, a 7% 2/3 yr fixed savings account with one of the high street internet accounts OR an account with the NS & I ...............helpLiquidity is when you look at your investment portfolio and **** your pants0
-
20% tax payer, so I have 150K that I don't need to touch for 2/3 years where is best for it, a 7% 2/3 yr fixed savings account with one of the high street internet accounts OR an account with the NS & I ...............help
Rate with NS&I is 4.2% + 0.7% = 4.9%. This is equivalent to 6.125% gross so if you can get more than that in a savings account then you are better off even paying 20% tax. Kaupthing Edge pay 6.5% for instant access so NS&I not that great for basic rate taxpayers. Plus you can only pay £30k maximum into eacj issue.0 -
Thanks Jem for that, but am I right in saying that all my savings are 100% safe with the NS&I ? as apposed to all the othersLiquidity is when you look at your investment portfolio and **** your pants0
-
-
kaupthing edge have a three year fixed for 7.16% - but i would suggest given the amount you are talking about it might be worth talking to an IFAKeep the Faith:cool:0
-
sorry to piggy back in but as a higher rate tax payer is it worth using these NS & I 3 year accounts vs regular savers, high interest accounts if you have 10 grand to invest? Or would a S+S iSA be better?
I have set up a different thread not realising this one was here so can ignore if i am raining on parade
Thanx0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards