NS&I Guaranteed Income Bond maturing after 2 yrs - where to put 75k balance?

Neil49

In the interim period she could move the funds into an Ns&I direct saver account (at 1.8%) if it is necessary to act quickly.

It is an instant access account. 

Band7

Neil49 said:

In the interim period she could move the funds into an Ns&I direct saver account (at 1.8%) if it is necessary to act quickly.

It is an instant access account. 

There are at least 10 instant access accounts which pay much better than 1.8%. They can all be opened at least as quickly as the NS&I direct saver

soulsaver

Band7 said:

Neil49 said:

In the interim period she could move the funds into an Ns&I direct saver account (at 1.8%) if it is necessary to act quickly.

It is an instant access account. 

There are at least 10 instant access accounts which pay much better than 1.8%. They can all be opened at least as quickly as the NS&I direct saver

Yep click my signature gets you to 15+ better rate options than NS&I

Neil49

Band7 said:

Neil49 said:

In the interim period she could move the funds into an Ns&I direct saver account (at 1.8%) if it is necessary to act quickly.

It is an instant access account. 

There are at least 10 instant access accounts which pay much better than 1.8%. They can all be opened at least as quickly as the NS&I direct saver

My suggestion is for the interim period (a week or so) while she decides what to do with the funds long term. Who wants to bother with id issues, new passwords and security questions etc for the sake of a few pence when it's already up and running with NS&I? 

aphty

Many thanks all - more to this than I thought. The interim solution part makes sense. Beyond that;

• I need to find out what is the total income from her state pension - I assume her tax free allowance is 12570
• Yes she is a basic rate tax payer
• Apart from interest on the 75k savings she has no other income
• So I assume the aim is to achieve the maximum amount of interest as monthly income she can generate tax free
• What is 'the £5,000 savings start rate'?

Huge thanks for the advice and clear explanations so far!