Money thoughts …

Irate customers reveal NS&I service has collapsed into chaos: Savers tell how they have been locked out of their £50,000 Premium Bond account and unable to access their winnings​


Look HERE
 
KIPAX said:
£125 bringing my average up :)

Just worked it out.. if thats the average (not £125..I mean the average I now have) for the year then its returning me a tiny bit over 1.5% which is equivelant to about 2% anywhere else as I would have to pay 20% tax on it
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My average for the year so far is a fraction over 3% but that was boosted by a decent win last month so expect it to drop to nearer 2%.
 
Cordy said:

Irate customers reveal NS&I service has collapsed into chaos: Savers tell how they have been locked out of their £50,000 Premium Bond account and unable to access their winnings​


Look HERE
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Never had a problem here.. "Mountains out of mole hills" to sell papers springs to mind :~)
 
KIPAX said:
£125 bringing my average up :)

Just worked it out.. if thats the average (not £125..I mean the average I now have) for the year then its returning me a tiny bit over 1.5% which is equivelant to about 2% anywhere else as I would have to pay 20% tax on it
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lots of options for 3% instant access accounts including some ISA's which would make it Tax free

Assuming that if you put it into an account will you then generate over £1000 of interest for the Tax year over all your taxable accounts? That amount excludes anything in an ISA already. If its more than £20k stick £20k in an ISA - fixed for a year at 4%, get one that you can take it out if you need to with the loss of 3 months interest. Then stick the rest in a 3% instant access account.

Its a bit of a chore but currently have quite a few accounts earning me the most I can and have to keep on top of them, including switching ISA's if the rate goes up
 
My go to starting point


Sainsbury Bank 3.37%
Shawbrook 3.65%
Postoffice 3.22%



Sainsbury Bank 3.29%
Shawbrook 3.45%
Santander 3.2%


Same link further down for Fixed Rate notice accounts

Santander 4.15%
Shawbrook 4.21%
Natwest 4.2%

Virgin Money, charter savings, Marcus also tend to have accounts not too far off this. Some will have conditions you may need to be aware of, all are regulated respected banks so online based some high street banks ( although good luck finding a highstreet branch)
 
Most folk in the UK have a £1000 tax free allowance in savings interest so sometimes better to look at other options than ISA's.

Tax on savings interest
 
I did withdraw some cash to stick in a fixed 2 year ISA at 3.75%
Happy enough with the odd premium bond win and enjoy checking each month.
Never going to be rich apart from in name so why not.
 
Nationwide ISA rates

1 year fixed ISA 4.10%
2 year fixed ISA 4.25%

Nationwide

There are other non high street names with higher rates if you search around
 
AgentOrange76 said:
Most, but £30k in savings at 3.3 % exceeds this.
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£30k @ 3.3% is £990 unless my calculator batteries are flat. It's still a fair tax saving and not many folk have £30k savings.
 
admirable said:
Nationwide ISA rates

1 year fixed ISA 4.10%
2 year fixed ISA 4.25%

Nationwide

There are other non high street names with higher rates if you search around
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Its nationwide I have my eye on if i give up on ernie but my circumstances have changed and not sure I want a fixed one now :(
 
Correction -- Premium Bonds

After waiting until 1 am this morning then checking our PBs
It gave both the Mrs and me as Zero, as reported in an earlier post
We did both win small amounts in April

I casually checked 10 minutes ago and found to my amazement that I had won £325 and the good Mrs £125
:):)
 
admirable said:
£30k @ 3.3% is £990 unless my calculator batteries are flat. It's still a fair tax saving and not many folk have £30k savings.
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Like I said Most, but some do. As you want to be pedantic over the percent it’s 3.334% so given I gave 3 banks with interest rates over this above its perfectly reasonable for an ISA to be an option especially given Kipax mentions tax on interest. That naturally lead me to think he may already be at the threshold so suggested an ISA but also mentioned I was assuming he was exceeding the threshold in the first half place. It may also be beneficial to start an ISA before you hit the threshold so as to maximise the amount in the ISA when you do.
 
I put £30k into premium bonds years ago, that was the most you could have at the time but I believe they've upped the max t £50k now.

My record this year... Jan £150, Feb £100, March £100, April £75, May £25.

I wouldn't really recommend them as an investment. I see their value in interest and excitement rather than as an investment.
 
woof woof said:
I put £30k into premium bonds years ago, that was the most you could have at the time but I believe they've upped the max t £50k now.

My record this year... Jan £150, Feb £100, March £100, April £75, May £25.

I wouldn't really recommend them as an investment. I see their value in interest and excitement rather than as an investment.
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yep 50k your seeing a decent return on 30k i think ?

interest and excitement yes.. i look forward to bond draw dates now :)
 
A dissapointing £25 for June :( two more chances (for the full year) then its getting moved to a nationwide account 4% instead of the 2% I am on now :(
 
Me £250
Wife £0

poor returns methinks
 
£75 this month, can't complain and its more about the fun than an investment.
 
I'm at 3.15% from May 22 to June 23
 
Tulipone said:
I have been wondering who is doing all the winning - certainly we are not.
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Hard to work out how lucky or not people are without knowing their investment.
Guessing that some have the full fifty grand others considerably less.
 
tijuana taxi said:
Hard to work out how lucky or not people are without knowing their investment.
Guessing that some have the full fifty grand others considerably less.
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As you say it's difficult without knowing the amount invested. APR is more accurate, me and the wife have done 2.6% over the last twelve months but last month we had done 3.1%. It only takes a couple of poor wins to drop the APR.
 
tijuana taxi said:
Hard to work out how lucky or not people are without knowing their investment.
Guessing that some have the full fifty grand others considerably less.
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Understood but the return 'win' rate should be pro rata whatever investment you have - ie you should not be luckier having more invested, but you should win more.
 
Tulipone said:
Understood but the return 'win' rate should be pro rata whatever investment you have - ie you should not be luckier having more invested, but you should win more.
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True up to a point, but luck still plays a part.
I see others winning larger sums, but I expect they are more heavily invested.
 
beyond the blue said:
As you say it's difficult without knowing the amount invested. APR is more accurate, me and the wife have done 2.6% over the last twelve months but last month we had done 3.1%. It only takes a couple of poor wins to drop the APR.
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Wife has almost £20k in bonds, this year it had been 2.5odd% profit, then boom £5k this month, she was doing back flips for a week, what a come down to earth I expect in July.:bat:
 
Me £250
Wife £zero
 
Tulipone said:
If you have the app, Julys winners will know if they have been lucky tomorrow. Or not.
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July's winners can find out now by checking online? What's the point of having the app if it's slower than checking online..............or am I missing something?
 
admirable said:
July's winners can find out now by checking online? What's the point of having the app if it's slower than checking online..............or am I missing something?
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Results aren't available until tomorrow online.
 
Ah, My apologies to all.
 
Good result this morning for July!
Me £75
Wife £1125
 
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