NS&I 4.00% Guaranteed Growth Bond and 3.97% Guaranteed Income Bond

National Savings has just launched a one year fixed growth bond paying 4% and monthly income bond 3.97% (AER)
Might be of interest to some

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  • ChilliBob
    ChilliBob Posts: 2,041
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    Interesting, presumably only really of interest if you intend to fix more than the 85k limit and can't be bothered to have multiple >4% accounts?
  • ColdIron
    ColdIron Posts: 8,677
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    I have a friend who has about £700k with NS&I because he cba to split it up and likes the security that comes with them. Useful for him
    Could be worth a look for people with a Direct Saver or Income Bonds for some, if not all, of their savings
    The GIBs are also useful for people who want a monthly income and a higher rate than offered by variable/limited access accounts. Most (but not all) fixed term accounts pay annually or upon maturity
    Another arrow in the quiver so to speak
  • Mands
    Mands Posts: 732
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    ChilliBob said:
    Interesting, presumably only really of interest if you intend to fix more than the 85k limit and can't be bothered to have multiple >4% accounts?
    Or you live outside the UK in a market where similar rates don't exist or are too risky.

    I'm resident elsewhere in Europe and continue to have savings in NS&I. Once I'd jumped through the, extensive, hoops to get my account opened it's been my primary savings location due to lack of other options.
  • Presumably it's taxable ? So, a 4% ish ISA makes far more sense especially this close to the start of a new tax year.
  • ColdIron
    ColdIron Posts: 8,677
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    Sure, it's taxable, but if you had more (or a lot more) than £20,000 and wanted to stay in cash it's another option
    Horses for courses
  • Band7
    Band7 Posts: 2,285
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    Presumably it's taxable ? So, a 4% ish ISA makes far more sense especially this close to the start of a new tax year.
    that's ok if you don't have more than £20k per tax year, and haven't used your ISA allowance otherwise. Mind you, £20k would yield less than the PSA for BR tax payers, so it might be academic anyway.
  • Shedman
    Shedman Posts: 1,479
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    Its quite handy if you have PoA for somebody and need to find a home for a chunk of cash (as we will need to very soon with MiL as a fixed account matures next week) and they already have an NSI account, as it saves having to go through all the rigamarole of sending IDs, certified copies of PoA etc off to open an account with another bank (esp given how few are available to open with a PoA anyway)
  • Shedman
    Shedman Posts: 1,479
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    edited 1 February 2023 at 12:18PM
    This could be a good wheeze to get a 4% 30 day notice account maybe (although perhaps with the delay in getting the refund its more a 40-45 day notice account) 

    "If you change your mind after you invest, you can cancel within 30 days of receiving confirmation of your Bond. You can do this online or by phone, or you can write to us.

    We'll refund your money, plus any interest earned, within 14 days of cancellation."

  • Swipe
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