Are NS&I Income Bonds better than the "highest interest" easy access savings accounts?

grumiofoundation

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.

Off-topic, and in La-La Land. Gold often goes down in inflation-adjusted value, and has (in the worst cases) lost as much as 80% of its value.

It may be off topic but it's not La-La Land. EdGasket is wholly correct. And is it really off-topic when someone states that a bond paying less than the inflation level should be compared with some commodity which is dependable and attractive if savers want to make money.

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.

EdGasketTheSecond

grumiofoundation said:

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.

Off-topic, and in La-La Land. Gold often goes down in inflation-adjusted value, and has (in the worst cases) lost as much as 80% of its value.

It may be off topic but it's not La-La Land. EdGasket is wholly correct. And is it really off-topic when someone states that a bond paying less than the inflation level should be compared with some commodity which is dependable and attractive if savers want to make money.

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.

nm

Zorillo

I opened an income bond at 9pm last night, funded by debit card and the account was showing as open and funded by 8am this morning. 

I did not consider buying gold.

KiKi

Re the Income Bonds 1.15% account, presumably - if I don't want to put a full £500 in at any point - I can put in, say £1000 plus the amount I want to deposit, then just withdraw the £1000 again?  So it easily meets the requirements?  (Obv it doesn't have to be £1000, it could just as easily be £500.)  I have Marcus at 1.05%, but this account would give me £70 extra per year...I like to make my money work for me, even if it's 'only' £70. 

RG2015

KiKi said:

Re the Income Bonds 1.15% account, presumably - if I don't want to put a full £500 in at any point - I can put in, say £1000 plus the amount I want to deposit, then just withdraw the £1000 again?  So it easily meets the requirements?  (Obv it doesn't have to be £1000, it could just as easily be £500.)  I have Marcus at 1.05%, but this account would give me £70 extra per year...I like to make my money work for me, even if it's 'only' £70. 

You can just put in the amount you want to. The only requirement is to deposit a minimum of £500 and never let the balance fall below £500.

LobsterMemory

RG2015 said:

KiKi said:

Re the Income Bonds 1.15% account, presumably - if I don't want to put a full £500 in at any point - I can put in, say £1000 plus the amount I want to deposit, then just withdraw the £1000 again?  So it easily meets the requirements?  (Obv it doesn't have to be £1000, it could just as easily be £500.)  I have Marcus at 1.05%, but this account would give me £70 extra per year...I like to make my money work for me, even if it's 'only' £70. 

You can just put in the amount you want to. The only requirement is to deposit a minimum of £500 and never let the balance fall below £500.

You sure?
I was under the impression that every transaction in or out had to be a minimum of £500

csgohan4

AndyPK said:

Hi

Regarding the 1.2% bond. Can you add money each month ? 

https://www.nsandi.com/our-products

which 1.2% bond?

RG2015

LobsterMemory said:

RG2015 said:

KiKi said:

Re the Income Bonds 1.15% account, presumably - if I don't want to put a full £500 in at any point - I can put in, say £1000 plus the amount I want to deposit, then just withdraw the £1000 again?  So it easily meets the requirements?  (Obv it doesn't have to be £1000, it could just as easily be £500.)  I have Marcus at 1.05%, but this account would give me £70 extra per year...I like to make my money work for me, even if it's 'only' £70. 

You can just put in the amount you want to. The only requirement is to deposit a minimum of £500 and never let the balance fall below £500.

You sure?
I was under the impression that every transaction in or out had to be a minimum of £500

Sorry, my bad. I meant the OP could deposit the amount they wanted to, without the need to withdraw £1,000 or any other sum. If they are gaining £70 over Marcus, I assumed a sum much greater then £500.

RG2015

csgohan4 said:

AndyPK said:

Hi

Regarding the 1.2% bond. Can you add money each month ? 

https://www.nsandi.com/our-products

which 1.2% bond?

This was answered a few posts back. AndyPK had meant the 1.15% NS&I Income Bond 

KiKi

RG2015 said:

LobsterMemory said:

RG2015 said:

KiKi said:

Re the Income Bonds 1.15% account, presumably - if I don't want to put a full £500 in at any point - I can put in, say £1000 plus the amount I want to deposit, then just withdraw the £1000 again?  So it easily meets the requirements?  (Obv it doesn't have to be £1000, it could just as easily be £500.)  I have Marcus at 1.05%, but this account would give me £70 extra per year...I like to make my money work for me, even if it's 'only' £70. 

You can just put in the amount you want to. The only requirement is to deposit a minimum of £500 and never let the balance fall below £500.

You sure?
I was under the impression that every transaction in or out had to be a minimum of £500

Sorry, my bad. I meant the OP could deposit the amount they wanted to, without the need to withdraw £1,000 or any other sum. If they are gaining £70 over Marcus, I assumed a sum much greater then £500.

Yes, I will be depositing a much greater sum - but it does say that the min transaction in and out is £500.  Not just for deposit or min savings.