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New NS&I 3.95% AER Fixed 1yr account
goldthornwolf
Posts: 109 Forumite
Is this account as highlighted in Marti's Latest email applicable for charities?
NS&I 3.95% AER. 100% Safety. Online, phone, post min. £500.
As well as the long fix above, Government-owned NS&I also pays 3.95% AER, if you lock the cash away in a 1 Year Guaranteed Growth Bond. Despite the risky sounding name it's simply a taxed fixed rate savings account, with a minimum deposit of £500, and you can access it online, by phone or post.
The real selling point though is total safety; all savings in NS&I come with a 100% guarantee as it is backed by the Government, meaning you can save up to £1 million in perfect safety. For full details read the 100% safety section of Savings Safety guide.
Unusually it also offers a get out clause, for a penalty of 90 days interest, though if you think you may need to touch the cash you are better off going for the top easy access account. Due to a legal quirk, tax will be automatically deducted from the interest earned, which means non-taxpayers will need to claim this back direct from HMRC.
NS&I 3.95% AER. 100% Safety. Online, phone, post min. £500.
As well as the long fix above, Government-owned NS&I also pays 3.95% AER, if you lock the cash away in a 1 Year Guaranteed Growth Bond. Despite the risky sounding name it's simply a taxed fixed rate savings account, with a minimum deposit of £500, and you can access it online, by phone or post.
The real selling point though is total safety; all savings in NS&I come with a 100% guarantee as it is backed by the Government, meaning you can save up to £1 million in perfect safety. For full details read the 100% safety section of Savings Safety guide.
Unusually it also offers a get out clause, for a penalty of 90 days interest, though if you think you may need to touch the cash you are better off going for the top easy access account. Due to a legal quirk, tax will be automatically deducted from the interest earned, which means non-taxpayers will need to claim this back direct from HMRC.
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