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MSE News: NS&I inflation-beating savings to return

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Comments

  • Biggles
    Biggles Posts: 8,209 Forumite
    1,000 Posts Combo Breaker
    So much for 'Register your email address if you want us to let you know when ILSCs are back on sale'.

    Usual hopeless administration at NS&I!
  • Pinner_Ram
    Pinner_Ram Posts: 49 Forumite
    you'll receive your news email from NS&I to alert you to the fact that ILSCs are now back on sale soon, ........... just before the one telling you that due to unprecedented demand they are now being taken off sale again.

    ;-(

    PR
  • Biggles
    Biggles Posts: 8,209 Forumite
    1,000 Posts Combo Breaker
    Pinner_Ram wrote: »
    you'll receive your news email from NS&I to alert you to the fact that ILSCs are now back on sale soon, ........... just before the one telling you that due to unprecedented demand they are now being taken off sale again.
    I'm glad at your certainty that they will arrive in that order, PR. I'm not so sure.....
  • Stompa
    Stompa Posts: 8,374 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    wriggly wrote: »
    Two caveats I see with more perusal:
    1. The non-indexed interest rate starts at a very low 0.05%, and stays low until the last two years. This seems a more "exponential" rise than previous issues, which punishes early withdrawals more.

    It's low, but not quite that low surely?

    http://www.nsandi.com/savings-current-interest-rates-year-year-rates

    says:

    Year 1 = RPI + 0.25%
    Year 2 = RPI + 0.35%
    Year 3 = RPI + 0.40%
    Year 4 = RPI + 0.65%
    Year 5 = RPI + 0.86%

    but yes, that's clearly intended to discourage early encashment.
    Stompa
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I just got my email from NS&I at 9:59am.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • wriggly
    wriggly Posts: 362 Forumite
    Stompa wrote: »
    It's low, but not quite that low surely?

    D'oh! I was caught out by the illustration used in the FAQ section, where the rates are: RPI + 0.05%, 0.07%, 0.10%, 0.30%, 0.71%.

    I think I'll stop posting before 9am.
  • C_Mababejive
    C_Mababejive Posts: 11,668 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Is it worth it?? Seems pretty rubbish to me.
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • The media are all giving the impression that the new index linked investment is ALL of RPI + 0.5% ie 5% ++

    WRONG!!

    The return is the growth in RPI index from 2 months before the purchase date, to the index on the anniversary date.
    In their own example, year 1 is only 2.38% (+ 0.5%)

    If the index drops, you get nothing (well only the + 0.5% bit)
  • Mr_K
    Mr_K Posts: 1,171 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Car Insurance Carver!
    Is it worth it?? Seems pretty rubbish to me.

    Tax free, government protected, protected from inflation and plus a smidgen more. Much more than you'll get from any savings account at the moment. The only way you'll lose (slightly) is if you need to cash in in the first year.
  • Stochasticity
    Stochasticity Posts: 1,727 Forumite
    Mr_K wrote: »
    Tax free, government protected, protected from inflation and plus a smidgen more. Much more than you'll get from any savings account at the moment. The only way you'll lose (slightly) is if you need to cash in in the first year.

    Or if inflation abates and you'd have been significantly better off in fixed rate savings.
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