NS&I. Bonds or stay with ISA

Slave_to_the_job

the NS&I 2.2% bond is a maximum of 3,000 GBP to put in

ColdIron

Not any more

• invest up to a total of £1 million per person (or £1 million per trust) per Issue

https://www.nsandi.com/guaranteed-growth-bonds

RG2015

dream_on wrote: »

Thank you, didn’t realise the interest would be £852.50 per year on £38,750. Would I just pay tax on any amount over £1000 and not the whole amount?

Yes, but there may be ways round paying any tax depending on your circumstances. I have inserted a link below to the HMRC web page on tax on savings interest which should help you to determine your possible tax liabiity.

https://www.gov.uk/apply-tax-free-interest-on-savings

RG2015

Slave_to_the_job wrote: »

the NS&I 2.2% bond is a maximum of 3,000 GBP to put in

ColdIron wrote: »

Not any more

• invest up to a total of £1 million per person (or £1 million per trust) per Issue

https://www.nsandi.com/guaranteed-growth-bonds

The 3-year 2.20% bond launched earlier this year was limited to £3,000 per person.

A new and different bond launched on 30th November is also a 3-year 2.20% bond but has a £1 million limit.