MSE News: How to beat inflation - earn 7.9% on your savings

Daneel

Quick question. It seems one can invest up to £15k in any issue, but I can't find anything that tells me if I can invest say £5k in one lump, then another £10k a couple of months later. I've probably just missed it on the site but if anyone can link me I'd appreciate it.

RayWolfe

Yes you can. From £100 to £15,000. Any number of individual certificates provided you do not exceed 15K each issue. I put money in every month.

Jonbvn

Pendle_Gazza wrote: »

If how I read jonbvn's comments is correct, investing now would mean RPI would have to be above the latest 5.4% next May to receive any of the 'bonus percentage'? And with that figure being all but as high as it's been for some time, that would appear to be less likely to occur I would have thought?

The key is the index which is basically an arbitary number - think of it like the FTSE 100. All you are interested in is the change between when you invest and when you sell (normally expressed as a %). From this you can see that the current rate of inflation will have no bearing on the return you will get in future.

Jonbvn

Yet another Q&A on this same issue in the Telegraph.

http://www.telegraph.co.uk/finance/personalfinance/savings/7763549/NSandI-index-linked-savings-QandA.html

JamesU

Jonbvn wrote: »

Yet another Q&A on this same issue in the Telegraph.

http://www.telegraph.co.uk/finance/personalfinance/savings/7763549/NSandI-index-linked-savings-QandA.html

Been a while since your thread starting with a similar article! Apt timing putting it back now.... it looks like MSE have finally tamed down the journalistic fiction.:)

JamesU

RayWolfe

Unfortunatly not! Look at the top of this page, there it is: "Top savings accounts 6.3% tax free"

Rollinghome

Says: "MSE News: How to beat inflation - earn 7.9% on your savings" at the top of mine.

Enough to embarrass a Daily Mail journo. Seems anything goes that gets the punters in.

JamesU

Rollinghome wrote: »

Says: "MSE News: How to beat inflation - earn 7.9% on your savings" at the top of mine. Enough to embarrass a Daily Mail journo. Seems anything goes that gets the punters in.

Still not quite there in places, but fictional stuff toned down a lot today, brash headlines gone, and explanations getting better. Mixing up their "currently" rather than "previously" in places but unfortunately it is correct that maturing ILCs currently return 6.3% even if those purchased now may not give these returns in the future, so a pedantic point to argue.

But on your post, for sure you are preaching to the converted:

http://forums.moneysavingexpert.com/showpost.html?p=33107371&postcount=40:)


JamesU

Sceptic001

PROGRESS CHAPS!!!

The 7.9% banner has disappeared. Now if we can get the 6.3% headline replaced with something like "inflation (5.3% last year) plus 1%" it will be a job well done.

Paul_Herring

Sceptic001 wrote: »

PROGRESS CHAPS!!!

Oh?

The 7.9% banner has disappeared. Now if we can get the 6.3% headline replaced with something like "inflation (5.3% last year) plus 1%" it will be a job well done.

6.3% headline? Which article? As of writing, the article linked to in the OP is still quoting 7.9% in the title