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  • FIRST POST
    • MSE Karl
    • By MSE Karl 4th Dec 17, 6:02 PM
    • 80Posts
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    MSE Karl
    MSE News: NS&I launches new fixed savings bonds but how do they stack up?
    • #1
    • 4th Dec 17, 6:02 PM
    MSE News: NS&I launches new fixed savings bonds but how do they stack up? 4th Dec 17 at 6:02 PM
    Government-backed savings provider NS&I has today launched fixed savings accounts allowing savers to deposit up to 1 million. Both its headline deals are beaten by others on the market though...
    Read the full story:
    'NS&I launches new fixed savings bonds but how do they stack up?'

    Click reply below to discuss. If you haven!!!8217;t already, join the forum to reply.
    Last edited by MSE Luke; 11-12-2017 at 3:04 PM.
Page 1
    • RG2015
    • By RG2015 4th Dec 17, 6:48 PM
    • 1,299 Posts
    • 762 Thanks
    RG2015
    • #2
    • 4th Dec 17, 6:48 PM
    • #2
    • 4th Dec 17, 6:48 PM
    There is already a thread on this.

    http://forums.moneysavingexpert.com/showthread.php?t=5753722
    • MSE Andrea
    • By MSE Andrea 5th Dec 17, 9:05 AM
    • 9,087 Posts
    • 21,927 Thanks
    MSE Andrea
    • #3
    • 5th Dec 17, 9:05 AM
    • #3
    • 5th Dec 17, 9:05 AM
    Thanks RG2015. I've let them know about our story on there.
    Could you do with a Money Makeover?


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    • RG2015
    • By RG2015 5th Dec 17, 10:31 AM
    • 1,299 Posts
    • 762 Thanks
    RG2015
    • #4
    • 5th Dec 17, 10:31 AM
    • #4
    • 5th Dec 17, 10:31 AM
    Thanks Andrea,

    My post was just a little tongue-in-cheek but there are some good posts on the thread.
    • MSE Andrea
    • By MSE Andrea 8th Dec 17, 1:33 PM
    • 9,087 Posts
    • 21,927 Thanks
    MSE Andrea
    • #5
    • 8th Dec 17, 1:33 PM
    • #5
    • 8th Dec 17, 1:33 PM
    No worries
    Could you do with a Money Makeover?


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    • Krb2609
    • By Krb2609 10th Dec 17, 5:43 PM
    • 2 Posts
    • 1 Thanks
    Krb2609
    • #6
    • 10th Dec 17, 5:43 PM
    Am I missing something?
    • #6
    • 10th Dec 17, 5:43 PM
    Ok, so 1.5% for 1 year, 2.2% for 3 years, but take your money out anytime for 90days loss of interest.

    So if you want to invest for a year, surely: invest for 3-years, take your money out early after 12 months and earn 9 months interest at 2.2% - which equates to 1.65%, in other words 10% higher return than the 1-year deal.

    Is my maths wrong or theirs????
    • alanq
    • By alanq 10th Dec 17, 5:51 PM
    • 4,016 Posts
    • 2,616 Thanks
    alanq
    • #7
    • 10th Dec 17, 5:51 PM
    • #7
    • 10th Dec 17, 5:51 PM
    Ok, so 1.5% for 1 year, 2.2% for 3 years, but take your money out anytime for 90days loss of interest.

    So if you want to invest for a year, surely: invest for 3-years, take your money out early after 12 months and earn 9 months interest at 2.2% - which equates to 1.65%, in other words 10% higher return than the 1-year deal.

    Is my maths wrong or theirs????
    Originally posted by Krb2609
    There may be an issue if tax is due on your interest (which will depend on your total income and your savings income).

    I believe that this was discussed some time ago. As I recall the penalty is equivalent to 90 days interest so you do not lose interest as such. You earn the 90 days interest and potentially pay tax on it but then you pay a penalty equal to to the gross amount.

    Please correct me if I have got this wrong.
    Last edited by alanq; 10-12-2017 at 5:58 PM.
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