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Savings & investments

Discuss premium bonds, regular savings accounts, autosaving apps, shares and much more.

Kids lump sum savings account
Hi, I opened a Halifax kids saver esrni g 5.5% interest 7 years ago when my son was born and have been saving in this every month. At the end of each 12 month period the money is automatically transferred into a kids saver now paying 3.1% interest. I am now looking to transfer a lump sum of £5k from the kids saver into an…
Are we all braced to be working through our spreadsheets for the, probable, base rate change?
Sounds as though it's likely. I bet am not alone in then waiting for the institutions then reacting to this and them adjusting their variable products. Then to plough through my Savings spreadsheet colour coding the rows / products that have and might change. Keeps me out of mischief!
Any platforms offering bonus for investing (ala Wealthify used to)
Hi all. Are there any other platforms offering what Wealthify did a year or two ago - I invested 2 x £50 for my children and they are worth £115 now. Keen to do it again but can't seem to find any?
ISA, advice on savings re inheritance
Hi All… I’m in the fortunate position of having some money to invest and reading the info on MSE but if anyone has advice to offer I’d be most grateful. I will put £20K into an ISA which I can leave there, then will need to split the rest between 2 separate savings accounts (one instant access) for the £85K protection. Am…
Inflation: CPIH v RPI
One interesting statistic from this morning's inflation announcement (particularly for those interested in inflation-linked gilts) is the RPI figure. This came in at 3.6%, whereas the CPIH figure was 3.9%. RPI usually higher and sometimes much more so (eg March 2023 13% v 9%)
Using plum for 2x DDs from RBS Reward account
I’ve just set up with Plum for the sole reason of having 2x Direct Debits going out of my RBS Reward account each month. But I am very confused!!! I set up a “Plum Interest” pot. This seems to be different to the “Easy Access” pot. My “primary pocket” shows as “East Access” I don’t understand what any of this means! I then…
Savings of 80k - where to invest?
Hi My partner and i are looking for some advise on what to do with our Money. We are both higher rate tax payers, We have currently over 70k in a joint savings account and are not sure of what to do with the money. We have a mortgage we are still paying, we are currently in a good financial situation, although it could…
NS&I to cut Premium Bond prize rate to 3.8% from April – are they still worth it?
NS&I will cut its Premium Bond prize-fund to 3.8% from 4% for the April draw and beyond. But this rate was already lagging behind interest rates on standard savings accounts – so if you have Premium Bonds, you may want to consider moving your cash to an interest-paying account. Read the full story: NS&I to cut Premium Bond…
CHIP Verification
Had my Chip account running a while with a substantial sum of money in it. I got an email last week to say they needed to do further verification. I thought it was odd so long after my account has been running. But i sent them the required ID to check. Have not had my account released yet, i have emailed them and they just…
Savings accounts for my sons who work abroad
Hi. I'd appreciate any advice on this: My 2 sons are British but work abroad, one in Germany and one in Lithuania. I'd like to give them some money which they'd put in a UK savings account. The hurdle is that they're not UK residents at the moment. They both have UK current bank accounts though. I just rang the co-op bank…
10 year fixed term saving account
Hi all I would like to lock away my savings for 10 years. At this point I will retire and have a smaller income. Then the interest incurred will not take me over the 50k 40% threshold. Is anyone aware of such products? Longest I have found is 7 years. Or are there other similar products out there? Basically want to defer…
Inheritance, investment and Discretionary Gift Trust
Hi everyone. I'm 51 and just inherited about 700,000 from my mum. I've never had spare money to invest before so I'm a complete newbie. We own our house outright and are debt free but no savings. Part of my inheritance is about 160,000 in a Discretionary Gift Trust from the PRU - mum set it up and my life is insured on it.…
Having all money with one brokerage or multiple brokerages for stock investment?
I have been considering the pros and cons of using multiple brokerages versus a single brokerage. Managing multiple brokerages requires more effort, may involve transferring funds between accounts, and, in the event of my passing, would require my beneficiary to deal with multiple firms for payout. However, spreading funds…
Halifax & kids savings accounts
So with their monthly kids saver account at the end of the year the money is moved to a kids saver account. Which is what has been happening. Side note - I thought the interest rate on the monthly saver account then drops but apparently it doesn't, or at least it hasn't. Anyway all straight forward with 1 kid but what is…
Thoughts on monthly interest v yearly for income
I was made redundant a year and a half ago and am not looking for work. I am 62 and have a really small pension of £350 a month. I have savings I am about to withdraw to live on this year - £16,000. Separate to the £16,000 I have an isa with £40,000 and other savings with £56,000 Toal £96,000. In April I am thinking of…
K188 Tax code
Apologies if this post is in the wrong forum but I have seen a lot of tax code discussion on here. My 76 year old Mum has just received a HMRC letter explaining that her Tax Code is changing for 25-26 to K188. She receives a widows state pension £269 pw and a widows police pension of £1377 pm, now I think I understand that…
"Manual Bed & SIPP" does this work?
Like many here (I suspect) I'm thinking about CGT for the first time. Never needed to before. I have a GIA that contains 10K purchase each of BCOG and gold, silver, and platinum ETCs (all bought in a previous tax year) Currently they're worth approx 10k (BCOG) 15k (Gold) 13k (Silver) & 9k (Platinum). As these are my only…
Director's Loan to Ltd company - Are finance costs tax deductible in this scenario?
If I take out a mortgage in order to lend money into my Ltd company via a Director's Loan, the finance costs are tax deductible since they are for business purposes. If the company then uses the money to buy an asset (property) from me as an individual, does this change the tax treatment of the finance costs in any way? My…
Prmium Bond winnings and tax on interest advice please
Hi everyone, We regularly put savings into our children's Premium Bonds in the hope of them getting a big win one day. We know that the winnings are tax free and they get the odd win now and again. However, if we chose not to reinvest and winnings and instead NS&I transferred the winnings to a savings account, would we as…
How to avoid paying tax on an inheritance
To our considerable surprise, my wife and I have learned that she stands to inherit something in the region of £100K shortly. We currently live on my State pension and Pension Credit, and have not paid tax since I had to stop working 10 years ago. Obviously we will come off Pension Credit once this windfall is actually in…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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