Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • MSE Karl
    • By MSE Karl 4th Dec 17, 5:02 PM
    • 140Posts
    • 46Thanks
    MSE Karl
    MSE News: NS&I launches new fixed savings bonds but how do they stack up?
    • #1
    • 4th Dec 17, 5:02 PM
    MSE News: NS&I launches new fixed savings bonds but how do they stack up? 4th Dec 17 at 5:02 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’t already, join the forum to reply.
    Last edited by MSE Luke; 11-12-2017 at 2:04 PM.
Page 1
    • RG2015
    • By RG2015 4th Dec 17, 5:48 PM
    • 1,718 Posts
    • 1,092 Thanks
    RG2015
    • #2
    • 4th Dec 17, 5:48 PM
    • #2
    • 4th Dec 17, 5:48 PM
    There is already a thread on this.

    http://forums.moneysavingexpert.com/showthread.php?t=5753722
    • Former MSE Andrea
    • By Former MSE Andrea 5th Dec 17, 8:05 AM
    • 9,418 Posts
    • 22,339 Thanks
    Former MSE Andrea
    • #3
    • 5th Dec 17, 8:05 AM
    • #3
    • 5th Dec 17, 8:05 AM
    Thanks RG2015. I've let them know about our story on there.
    Could you do with a Money Makeover?


    Follow MSE on other Social Media:
    MSE Facebook, MSE Twitter, MSE Deals Facebook, MSE Deals Twitter, Forum Twitter, Instagram, Pinterest
    Join the MSE Forum
    Get the Free MoneySavingExpert Money Tips E-mail
    Report inappropriate posts: click the report button
    Point out a rate/product change
    Flag a news story: news@moneysavingexpert.com
    • RG2015
    • By RG2015 5th Dec 17, 9:31 AM
    • 1,718 Posts
    • 1,092 Thanks
    RG2015
    • #4
    • 5th Dec 17, 9:31 AM
    • #4
    • 5th Dec 17, 9:31 AM
    Thanks Andrea,

    My post was just a little tongue-in-cheek but there are some good posts on the thread.
    • Former MSE Andrea
    • By Former MSE Andrea 8th Dec 17, 12:33 PM
    • 9,418 Posts
    • 22,339 Thanks
    Former MSE Andrea
    • #5
    • 8th Dec 17, 12:33 PM
    • #5
    • 8th Dec 17, 12:33 PM
    No worries
    Could you do with a Money Makeover?


    Follow MSE on other Social Media:
    MSE Facebook, MSE Twitter, MSE Deals Facebook, MSE Deals Twitter, Forum Twitter, Instagram, Pinterest
    Join the MSE Forum
    Get the Free MoneySavingExpert Money Tips E-mail
    Report inappropriate posts: click the report button
    Point out a rate/product change
    Flag a news story: news@moneysavingexpert.com
    • Krb2609
    • By Krb2609 10th Dec 17, 4:43 PM
    • 2 Posts
    • 1 Thanks
    Krb2609
    • #6
    • 10th Dec 17, 4:43 PM
    Am I missing something?
    • #6
    • 10th Dec 17, 4:43 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, 4:51 PM
    • 4,154 Posts
    • 2,733 Thanks
    alanq
    • #7
    • 10th Dec 17, 4:51 PM
    • #7
    • 10th Dec 17, 4:51 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 4:58 PM.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,037Posts Today

7,591Users online

Martin's Twitter