NS&I Rate help please

vigman

Hi

My brain hurts.
I have 15K in a 1 year 3.85% NS&I Growth bond from Nov 2009 and 35K in an NS&I 3 year growth bond from Nov 09.

If I switched these to the index linked 6% NS&I account now would the penalties outweigh the gain in interest???

TIA

Vigman

vigman

........................The 3 year was 4.4%.................

alanq

vigman wrote: »

If I switched these to the index linked 6% NS&I account ...

There is no such product. The return depends on FUTURE inflation.

vigman

I was referring to this???:

Basic rate taxpayers earn equiv of 7.9%. NS&I, the government run bank's index-linked savings pays RPI + 1% tax-free, so that's 6.3% at current rates (see warning below). To earn that in normal savings a basic rate taxpayer would need 7.9% pre-tax (higher rate 10.5%, top rate 12.6%), over double the standard best buy.

JamesU

vigman wrote: »

I was referring to this???:

Basic rate taxpayers earn equiv of 7.9%. NS&I, the government run bank's index-linked savings pays RPI + 1% tax-free, so that's 6.3% at current rates (see warning below). To earn that in normal savings a basic rate taxpayer would need 7.9% pre-tax (higher rate 10.5%, top rate 12.6%), over double the standard best buy.

That info is all nonsense. Read the link below for clarification.

JamesU

https://forums.moneysavingexpert.com/discussion/2436929

StevieJ

vigman wrote: »

I was referring to this???:

Basic rate taxpayers earn equiv of 7.9%. NS&I, the government run bank's index-linked savings pays RPI + 1% tax-free, so that's 6.3% at current rates (see warning below). To earn that in normal savings a basic rate taxpayer would need 7.9% pre-tax (higher rate 10.5%, top rate 12.6%), over double the standard best buy.

Nice try a definite wind up

vigman

Errr....this is on the front page of MSE today! What's going on, please?

Definitely no wind up my end.

Vigman

vigman

Urgent MoneySaving: 7.9% savings, £37 Ray Bans, £10 off Sains, £150 netbook, Free festivals, 0% cards, 20% off New Look,


This week’s MoneySaving e-mail contains over 50 new & urgent ways to save. Don’t miss out; get it e-mailed direct, or if not, read it here.

JamesU

vigman wrote: »

Urgent MoneySaving: 7.9% savings, £37 Ray Bans, £10 off Sains, £150 netbook, Free festivals, 0% cards, 20% off New Look,


This week’s MoneySaving e-mail contains over 50 new & urgent ways to save. Don’t miss out; get it e-mailed direct, or if not, read it here.

Journalistic hype and misleading. Read through the link I posted earlier.

JamesU

vigman

I will James! Just been to the Eye Hospital to have embedded grit removed so did not read the article carefully in the first place!

Vigman

vigman

Going back to my original question then, but ignoring the NS&I Inflation linked accounts:


"I have 15K in a 1 year 3.85% NS&I Growth bond from Nov 2009 and 35K in an NS&I 3 year growth bond @ 4.4% from Nov 09."

If I switched these to [fill company name and type of account here paying better interest] accounts now would the penalties outweigh the gain in interest???

TIA

Vigman