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Falling interest rate on income bond.

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I have 100k in a ns&i income bond. it was paying me  just over £300 pcm, which helps to supplement my pension. due to the recent interest rate change, I'm now getting £260pcm. so I'm looking for advice on where to put that money that will give me a monthly income? advice appreciated.

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  • wmb194
    wmb194 Posts: 4,930 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    clive0510 said:
    I have 100k in a ns&i income bond. it was paying me  just over £300 pcm, which helps to supplement my pension. due to the recent interest rate change, I'm now getting £260pcm. so I'm looking for advice on where to put that money that will give me a monthly income? advice appreciated.
    clive0510 said:
    I have 100k in a ns&i income bond. it was paying me  just over £300 pcm, which helps to supplement my pension. due to the recent interest rate change, I'm now getting £260pcm. so I'm looking for advice on where to put that money that will give me a monthly income? advice appreciated.
    Play with the filters to find accounts that will pay interest (away) monthly.

    https://moneyfactscompare.co.uk/savings-accounts/
  • eskbanker
    eskbanker Posts: 37,189 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Bear in mind that if/when moving away from NS&I, the FSCS protection cap of £85K comes into play, so, unless it's a joint account, you'd be safest with two accounts.  It shouldn't be difficult to beat 3.26% gross interest though....
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