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Are NS&I Income Bonds better than the "highest interest" easy access savings accounts?
Comments
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RG2015 said:@Gers, Thanks for your reply. Do you have a take on whether a faster payment or a debit card payment has any benefits over the other?
Bank transfer deposits leave your current account immediately, and stop earning any interest in the current account immediately, but won't appear in your NS&I account immediately. They say "an electronic transfer deposit received by 18:30 on a banking day will normally clear on the next banking day", so you would normally get interest again on the next day.
For the purist, debit card deposits offer better value for money. For the panicky person, debit card deposits might be more re-assuring as they immediately show as pending deposits. There's a slight advantage with bank transfers for those who didn't really want to deposit the money and want to withdraw it again before the deposit has cleared. But it really is 6 in one, and half a dozen in the other.4 -
Sorry. The NS&I 1.15% bond.0
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RG2015 said:@Gers, Thanks for your reply. Do you have a take on whether a faster payment or a debit card payment has any benefits over the other?2
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colsten said:For the purist, debit card deposits offer better value for money. For the panicky person, debit card deposits might be more re-assuring as they immediately show as pending deposits. There's a slight advantage with bank transfers for those who didn't really want to deposit the money and want to withdraw it again before the deposit has cleared. But it really is 6 in one, and half a dozen in the other.
It's all a lot of hassle for a measly 1% - but still 100x the interest I'm currently getting. It's just that with "normal" banks you get used to electronic payments being instantaneous.1 -
Any bond paying less than the real rate of inflation (not the CPI lie) is giving you a negative return i.e. you are paying for someone to hold your money for you. Instead invest in gold and silver which will at least maintain value rather than lose it.
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EdGasketTheSecond said:Instead invest in gold and silver which will at least maintain value rather than lose it.
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dont_look_now said:EdGasketTheSecond said:Instead invest in gold and silver which will at least maintain value rather than lose it.1
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EdGasketTheSecond said:Any bond paying less than the real rate of inflation (not the CPI lie) is giving you a negative return i.e. you are paying for someone to hold your money for you. Instead invest in gold and silver which will at least maintain value rather than lose it.coachman12 said:dont_look_now said:EdGasketTheSecond said:Instead invest in gold and silver which will at least maintain value rather than lose it.
Gold (and silver) is a volatile investment, it cannot really be compared to a savings account where the capital is not at risk. Over a short period gold could easily lose value compared to cash - therefore is not suitable for someone who wants to hold cash (for whatever reason) and therefore the two are not suitable for comparison.
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