Record £2.16 billion more saved in Premium Bonds in a month - MSE News

dekdee

My take on premium bonds are if you put your money here rather than the lottery the money you save by not playing the national lottery can be considered as interest saved as you are still having your chance of hitting millionaire Row.
If you just play lotto then this can be £4 a week or if you play the all other games it can mount up to £50 a month as interest saved by having saved in bonds.

grumiofoundation

masonic said:

Thrugelmir said:

masonic said:

Thrugelmir said:

NSI Green bonds will be the next switch of funds. 

I wouldn't be surprised if the main reward to those holding green bonds will be the knowledge they are making the world a better place (at least in theory). Perhaps someone will organise a clap, but I doubt they will see much of a return.

Future infrastructure spending for the UK is going to be enormous. No theory in that. Hard cash reality. 

It certainly needs to be (especially with the level of corruption in this Government, as much of it will probably be paid out to party donors and mates of ministers who have no experience of running infrastructure projects and probably won't deliver anything), but what minimum rate would NS&I need to offer to secure its funding target, and why would it pay more?

Possibly how close you or your family are to various members of the government will impact the interest rate you receive?

someone

Yikes! how much notice do they usually give when dropping the rates?

masonic said:

I wouldn't be surprised if the main reward to those holding green bonds will be the knowledge they are making the world a better place (at least in theory). Perhaps someone will organise a clap, but I doubt they will see much of a return.

I would not be surprised if the interest is paid out in some other form along the lines of the trial car scrappage scheme that pays out in vouchers to use for bikes, buses  and taxis.

eskbanker

someone said:

Yikes! how much notice do they usually give when dropping the rates?

The December 2020 changes were announced on 21 September:

https://nsandi-corporate.com/news-research/news/nsi-reduce-interest-rates-24-november-2020

jelv

I bet a lot of the money going in to Premium Bonds is simply people moving their savings across from Income Bonds which had the interest rate slashed at the end of last year to a pathetic 0.01%. If that's the case it will be hiding that they will not be achieving their target.

Sailtheworld

It doesn't seem that long ago (because it isn't) that NS&I savers were complaining about how the rotters were cutting down on the trickle up from taxpayer to the already wealthy. Funny how, now they're heading back with their tail between their legs, they're a bit less vocal. 

eskbanker

Sailtheworld said:

It doesn't seem that long ago (because it isn't) that NS&I savers were complaining about how the rotters were cutting down on the trickle up from taxpayer to the already wealthy. Funny how, now they're heading back with their tail between their legs, they're a bit less vocal. 

The facts don't support the trolling though - NS&I are still forecasting a net outflow of over £18bn during the six months since the announcement of last November's rate cuts, despite the total PBs in circulation continuing to increase by at least 1.2bn every month since last May (i.e. there's no particularly significant surge in the way that the record monthly figure might suggest).

Sailtheworld

eskbanker said:

Sailtheworld said:

It doesn't seem that long ago (because it isn't) that NS&I savers were complaining about how the rotters were cutting down on the trickle up from taxpayer to the already wealthy. Funny how, now they're heading back with their tail between their legs, they're a bit less vocal. 

The facts don't support the trolling though - NS&I are still forecasting a net outflow of over £18bn during the six months since the announcement of last November's rate cuts, despite the total PBs in circulation continuing to increase by at least 1.2bn every month since last May (i.e. there's no particularly significant surge in the way that the record monthly figure might suggest).

£2.2bn is nearly twice as much as £1.2bn - time will tell but that looks significant. Terrible news for the taxpayer.

Late last year it was Marcus this and Marcus that but people aren't proud - they'll be back soon too.

eskbanker

Sailtheworld said:

eskbanker said:

Sailtheworld said:

It doesn't seem that long ago (because it isn't) that NS&I savers were complaining about how the rotters were cutting down on the trickle up from taxpayer to the already wealthy. Funny how, now they're heading back with their tail between their legs, they're a bit less vocal. 

The facts don't support the trolling though - NS&I are still forecasting a net outflow of over £18bn during the six months since the announcement of last November's rate cuts, despite the total PBs in circulation continuing to increase by at least 1.2bn every month since last May (i.e. there's no particularly significant surge in the way that the record monthly figure might suggest).

£2.2bn is nearly twice as much as £1.2bn - time will tell but that looks significant. Terrible news for the taxpayer.

The point was that £1.2bn was the minimum monthly increase over a sustained period - the average increase over the three months before NS&I announced their rate reductions was £1.75bn and it was over £1.83bn in January, so the notion that there's suddenly a huge movement of returnees 'with their tail between their legs' is just fanciful supposition....