MSE News: NS&I slashes savings limit on bonds to just £10,000

DiggerUK

With the separation of retail and investment arms in the banks, they have not been able to use savers deposits in the way they used to.
Savers rates have tanked; remember the heady days of 6% net in a cash ISA?
My Nationwide ISA has given me notice of a drop from 0.75%, to 0.5% come July. The days of an automatic rise in savings rates following BOE rises are long gone.

So what is a girl supposed to do, leave cash on deposit and inflation burns it alive. Go in to no dividend return items such as gold, antiques, wine, classic cars etc.. Go with equities and property with their risks, and hope for above inflation returns. Go with more tied up in pensions, and hope for a decent return at 55?
These questions are constantly being asked on this forum.

Then there is the safety of NSI savings, despite inflation consuming them, your deposit was sound. Seems to me that everything is being done to send savers in to the arms of the usual suspects and quacks who will suggest the old ways of treatment.

Acknowledge the unresolved crisis in the middle of this boom?.... typical Digger..._

eskbanker

DiggerUK wrote: »

So what is a girl supposed to do, leave cash on deposit and inflation burns it alive. Go in to no dividend return items such as gold, antiques, wine, classic cars etc.. Go with equities and property with their risks, and hope for above inflation returns. Go with more tied up in pensions, and hope for a decent return at 55?
These questions are constantly being asked on this forum.

While most of these options are indeed the most frequently discussed ones on here (plus P2P and crypto of course), the bolded one is the obvious exception, although I can think of one poster who seems to consider it as a sensible alternative....

DiggerUK

eskbanker wrote: »

........although I can think of one poster who seems to consider it as a sensible alternative....

Set the cat on them..._
https://m.youtube.com/watch?v=2zQr8Rwp1tk

badger09

eskbanker wrote: »

V has been banned (in the form of Posting Privileges Revoked, hence 'PPR' displayed under the username) since 1 June, based on date of most recent post, but I don't know how long the ban is for.

M maybe eventually got bored of trolling endlessly, or perhaps it was just that half-term finished?

There is also the 'diminishing returns' aspect of the TSB saga, in that there's little new left to say, sensible or otherwise, on the subject....

That hasn't stopped him in the past:cool:

Jimmithecat

badmemory wrote: »

I would think that anyone who didn't refer to a cut from 100% to 1% as a "slash" or a similar term would be a person who was defending it for some personal reason. Because if not why defend it?

I can only assume this is tongue in cheek - the cut in holding was so dramatic I thought that I had missed a post about it - i’m very disappointed with ns&i for this and am unable to see how I was defending it

kidmugsy

It's not half as vigorous a "slash" as stopping the sale of Index-Linked Savings Certificates was. (I groaned when one of the youngsters in my extended family confessed to cashing his in.)

Thrugelmir

One can only assume that the NSI was being used to park considerable sums of money. The Treasury still has a significant borrowing requirement this year. All that liquidity pumped into the system via QE and the support schemes. Appears to be struggling to find a home.

bertsilver

Can you open 2 1yr bonds and put in 10k x 2?

RG2015

bertsilver wrote: »

Can you open 2 1yr bonds and put in 10k x 2?

If you look on the NS&I site you will see the summary sheet with the following:

invest up to a total of £10,000 per person (or £10,000 per trust) per Issue