3.95% for 1 year with NS&I

oldfella

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=190244

ManAtHome

Good one - should shake things up a bit...

apt

An interesting move, especially as the recent trend has been for interest rates to fall. E.g. Leeds chopped 0.25% of a lot of their savings rates last week, especially those with 'loyalty' in the title. The 90 day loss of interest for early withdrawal on the NS&I bonds is also better than many offerings currently on the market.

Reaper

Just what I was going to say apt! It does seem to buck the trend.

Also the 5 year 4.5% looks a bit more apealing since it is possible to get the money out with 90 days loss of interest, though not as good as the recently withdrawn 5% deals.

PS I suggest using the "Like It" button so MSE notice the offer.

beardiedog

Great. Begs the question: should I hold back for a while and see how the others respond?

amcluesent

Shows how keen HMG are for cash!

Is it tax-free like some other NS&I products?

D1zzy

So how should we read the runes on this one?
Gordon & Co offering market leading rates for 1 and 2 years! - not the norm so why now?
What do they know that we don't?
They need the money to pay off the debt?
Shake up for the the banks for not lending?
Will the banks respond?
Crystal ball country, I know.

Anyone know how long these issues normally last - I was just about to roll over my Julian Hodge for their 3.7% - but it doesn't mature for another 3 weeks

Froglet

amcluesent wrote: »

Shows how keen HMG are for cash!

Is it tax-free like some other NS&I products?

No,and you cannot register for the interest gross either.So not really suitable for non tax payers unless you want to faff around reclaiming tax later on which i definitely don't.Done it once and it is a right pain.

musehead

D1zzy wrote: »

Anyone know how long these issues normally last - I was just about to roll over my Julian Hodge for their 3.7% - but it doesn't mature for another 3 weeks

I'd like to know too if possible - i've got a large lump sum i'd like to invest but it's gonna take a week or two to gather from the various accounts!

atypical

Froglet wrote: »

No,and you cannot regster for the interest gross either.So not really suitable for non tax payers unless you want to faff around reclaiming tax later on which i definitely don't.Done it once and it is a right pain.

I just rang them and they confirmed this (not that I didn't trust you ). Seems very silly seeing as every other bank and building society accepts R85 forms. It's the only reason I won't be opening one.

musehead

Does anyone know if it's possible to open two bonds of the same issue? Thinking of opening one this week, and maybe another in a couple of weeks when I have more funds avaliable. Or perhaps i'll be able to add to the existing bond.