Income Bonds ?

montycat_2

Hello,
Soon ,I will have £25-30k from a 6 month bond due to mature .I would like to use this to raise a monthly income .
I have been advised about the Portman Income Bond but I wondered what other ones were out there .
Thankyou

montycat_2

Anyone ,got any ideas please ?

cheerfulcat

Hi, montycat,

I meant to post this yesterday, sorry, got carried away with the spring cleaning :A

You can compare fixed term accounts here. There are some which pay a slightly better rate than the Portman. I have some cash looking for a home too but I am inclined to wait a while to see whether rates improve; I may just go for a one-year account and see what happens.

HTH

Cheerfulcat

montycat_2

I would like to wait but ,this is my bread and butter (without drawing on my reserves).I have been quoted 4.75%
Thanks for the link .

Save&Spend

Portman also has an 90-Days notice Branch saver paying 5%.

cheerfulcat

I would like to wait but ,this is my bread and butter (without drawing on my reserves).

Yes, mine too - as you know, my situation is similar to yours. The thing is, fixing a rate now may turn out to be a mistake, if rates go up again ( as surely they must) - especially if you are locked in to a rate as low as 4.75%. I was looking at the Progressive 3 year account at 5.1% . OK, you're locked in for three years instead of one but it's a fairly good rate right now. It is our local building society ( NI ) but the term accounts are open to any UK resident.

montycat_2

Hi Cheerfulcat ,Thanks for that I will think on it .
Sorry,I forgot about your circumstances .