NS and I income bonds

Moneydissenter

Hi fellow moneysavers,

I have recently inherited 500k and am looking to invest. I plan to leave the UK and therefore, my savings options are limited as a non-resident. However, the NS &1 guaranteed income bonds are available to non-residents who have a UK bank account, which is my case. The interest is not the best on offer (3.83% for a five year bond), but is acceptable. I just wondered whether there are any pitfalls or can anyone recommend another bond with the same conditions that would be more profitable? Any advice is greatly appreciated.

eskbanker

If you plan to leave the UK, would it make sense for your money to stay here, or would it not be better to have it with you wherever you are?

wmb194

Moneydissenter said:

Hi fellow moneysavers,

I have recently inherited 500k and am looking to invest. I plan to leave the UK and therefore, my savings options are limited as a non-resident. However, the NS &1 guaranteed income bonds are available to non-residents who have a UK bank account, which is my case. The interest is not the best on offer (3.83% for a five year bond), but is acceptable. I just wondered whether there are any pitfalls or can anyone recommend another bond with the same conditions that would be more profitable? Any advice is greatly appreciated.

With which banks do you have current accounts? Depending on where you move they may be closed. Generally speaking HSBC appears to be the most flexible on allowing non residents to keep their accounts.

Moneydissenter

Nationwide, HSBC and llyods

Moneydissenter

The money is in sterling so conversión would be a major hassle.
Also, the UK offers better rates of interest than other countries.