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NS&I 1 yr fix no loss?
vigman
Posts: 1,389 Forumite
The Daily Mail is making a great deal about upset savers who can't invest now the 1 yr Growth Bond has been withdrawn by NS&I after 24 days, but seem to miss the point that Martin and MSE make here that you can still buy into the existing 3 or 5 year fixes but still get your money out with the 90 days loss of interest!!?
Vigman (whose just put his wife's one yr fix returned money into a three year one!)
Vigman (whose just put his wife's one yr fix returned money into a three year one!)
Any information given in my posts or replies is intended to be of interest and/or help to members of the forum. I cannot guarantee that this is accurate or up to date.
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Comments
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The Daily Mail thrives on upset, so I wouldn't worry about it.0
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If you do the 3 year 1 @ 4.4% and withdraw early, after the penalty the equivalent rates are approx:-The Daily Mail is making a great deal about upset savers who can't invest now the 1 yr Growth Bond has been withdrawn by NS&I after 24 days, but seem to miss the point that Martin and MSE make here that you can still buy into the existing 3 or 5 year fixes but still get your money out with the 90 days loss of interest!!?
Vigman (whose just put his wife's one yr fix returned money into a three year one!)
1 year - 3%
2 years 3.72%0 -
A family member applied for this a week prior to the (Wednesday 18th?) cut-off but has had the cheque returned. I guess the Royal Mail may have taken 5-6 working days to deliver something with a 1st class stamp on it...
"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
So why would anyone do the 2 year or 3 year and withdraw early? Those rates calculated can be easily beaten.0
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I guess if you've got a "load" and are fed up for trying to find homes for it in £50k lots, avoiding banks/bs that fall under the same umbrella - there's an appeal to being able to dump it in 1 place with 100% guarantee - even if its not quite the best rate available.MarkyMarkD wrote: »So why would anyone do the 2 year or 3 year and withdraw early? Those rates calculated can be easily beaten.
On that basis 3 yrs @ 4.4% is probably not bad - lots have been doing 2 yr fixed with no getout at 4'n a bit %0
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