Savings interest rate thread
Discussion
Armitage.Shanks said:
I grabbed that with both hands when I saw it especially as I already had money with them in the 'car float'. My only regret is I didn't lump a lot more in 
Yes it looks like a result, we shoved £125k into three bonds (part of an inheritance) the rest in Santander at 5%. 981Boxess said:
FiF said:
Being predicted that in the budget Hunt will go for another savings grab into NS&I.
From the sounds of it Hunt hasn’t got a clue what he is or isn’t doing.Can’t see the NS&I 6.2% FRB coming back though, I suspect we are well and truly over the hill now.
R.
The Leaper said:
I think he knows exactly what he is doing leading up to the Autumn Statement. Let the media speculate as wildly as poss, and then demonstrate that they knew very little (as usual?)....I may be proved wrong, of course. All a distraction from other government related news.
R.
Sorry I was being unfair, Hunt is doing whatever he needs to do to keep his seat on the gravy train, just like the rest of our politicians.R.
Sheepshanks said:
981Boxess said:
Sorry I was being unfair, Hunt is doing whatever he needs to do to keep his seat on the gravy train, just like the rest of our politicians.
He’s supposed to be going to quit (as an MP).https://youtu.be/B1ol6xAP0IE?si=PCngQ_6mdenOXHR3
981Boxess said:
Can’t see the NS&I 6.2% FRB coming back any time soon though, I suspect we are well and truly over the hill now.
I agree, I think the 6.2% was the absolute pinnacle and rates will stagnate and start to fall from now on. I have a Marcus account currently at 4.75%, I don't think I will get another email telling me rates have risen, in fact I suspect the next one will be telling me rates have fallen.I was thinking about selling a BTL and putting the money into something like the NS&I account, but I think this is all a couple of years blip and keeping the property long term is the better plan.
Joey Deacon said:
981Boxess said:
Can’t see the NS&I 6.2% FRB coming back any time soon though, I suspect we are well and truly over the hill now.
I was thinking about selling a BTL and putting the money into something like the NS&I account, but I think this is all a couple of years blip and keeping the property long term is the better plan.There are still decent 5 years FRBs to be had today.
981Boxess said:
No expert but I don’t see the rates dropping as fast as they went up or indeed as fast as some optimists predict.
There are still decent 5 years FRBs to be had today.
Might well be dropping below 5% soon given how swaps have moved post CPI.There are still decent 5 years FRBs to be had today.
Looks likely for Hunt to do something to the NS&i funding target in the budget so wouldn’t think it unlikely for more market distorting rates from them.
Teatowell said:
981Boxess said:
No expert but I don’t see the rates dropping as fast as they went up or indeed as fast as some optimists predict.
There are still decent 5 years FRBs to be had today.
Might well be dropping below 5% soon given how swaps have moved post CPI.There are still decent 5 years FRBs to be had today.
Looks likely for Hunt to do something to the NS&i funding target in the budget so wouldn’t think it unlikely for more market distorting rates from them.
The tax free angle might tempt savers away from the usual suspects.
Joey Deacon said:
I agree, I think the 6.2% was the absolute pinnacle and rates will stagnate and start to fall from now on. I have a Marcus account currently at 4.75%, I don't think I will get another email telling me rates have risen, in fact I suspect the next one will be telling me rates have fallen.
I was thinking about selling a BTL and putting the money into something like the NS&I account, but I think this is all a couple of years blip and keeping the property long term is the better plan.
I have a Shawbrook instant access account, mine is Issue 36 and pays 5.11%. The latest issue is 37, and pays 5.00%.I was thinking about selling a BTL and putting the money into something like the NS&I account, but I think this is all a couple of years blip and keeping the property long term is the better plan.
I also have an easy access Cash ISA (issue 25) with them, mine pays 4.82%, latest issue 26 account pays 4.70%. So starting to drop for sure.
mikey_b said:
I have a Shawbrook instant access account, mine is Issue 36 and pays 5.11%. The latest issue is 37, and pays 5.00%.
I also have an easy access Cash ISA (issue 25) with them, mine pays 4.82%, latest issue 26 account pays 4.70%. So starting to drop for sure.
I moved across from easy access to FRBs around July time, apart from the NS&I one which came along and was too good to miss out on.I also have an easy access Cash ISA (issue 25) with them, mine pays 4.82%, latest issue 26 account pays 4.70%. So starting to drop for sure.
Dropping is inevitable, but as I am a saver as opposed to a borrower the slower the better as far as I am concerned.
bmwmike said:
For the first time since oh I don't know many moons anyway, my interest free overdrafts are maxed out. The bank keep emailing me to tell me I'm using my overdraft. I know that mateys, the cash is in a linked account earning interest. Lol, every little helps etc.
I have around £30k and rising in 0% credit cards. It's giving me a decent little supplement to my income. I've not used much of my own cash for a while. Hasn't that completely screwed your credit rating though?
It's a serious flaw in the rating system that it doesn't take savings into account. I decided to buy a Laptop on free credit yesterday and leave savings alone. My score went down 11 points today, despite having plenty cash to cover it all.
It's a serious flaw in the rating system that it doesn't take savings into account. I decided to buy a Laptop on free credit yesterday and leave savings alone. My score went down 11 points today, despite having plenty cash to cover it all.
rossub said:
Hasn't that completely screwed your credit rating though?
It's a serious flaw in the rating system that it doesn't take savings into account. I decided to buy a Laptop on free credit yesterday and leave savings alone. My score went down 11 points today, despite having plenty cash to cover it all.
I've no idea about how credit ratings work, so what difference does 11 points make? Is it large amount (like out 50) or out of more? When I was working I had two credit cards (one for work and one for personal use) and just had them paid off in full each month. I've kept both cards now I'm retired and occasionally make purchases on them, just to keep them ticking over. I don't know how easily I'd be able to get another one now, but I've never run a credit check on myself, so I don't know how significant this is. I haven't had a loan (other than when we had a mortgage) for maybe 30 years, so I guess things have changed now...It's a serious flaw in the rating system that it doesn't take savings into account. I decided to buy a Laptop on free credit yesterday and leave savings alone. My score went down 11 points today, despite having plenty cash to cover it all.
I like just having them as a back up should I need more money than I have already got in easy access (and can then wait for other savings that are time locked, or would lose interest if taken out early).
Armitage.Shanks said:
gotoPzero said:
The NSI with 100% protected and 6.2 was an amazing deal though.
I grabbed that with both hands when I saw it especially as I already had money with them in the 'car float'. My only regret is I didn't lump a lot more in NSI said:
Premium Bonds
4.65% annual prize fund rate, variable
Having not used them since a child, at the 6% rate if you put in £50k then cashed out after a year would you get £53k back or would it still be £50k but you would have had the chance to win in the monthly prizes?4.65% annual prize fund rate, variable
OldSkoolRS said:
I've no idea about how credit ratings work, so what difference does 11 points make? Is it large amount (like out 50) or out of more? When I was working I had two credit cards (one for work and one for personal use) and just had them paid off in full each month. I've kept both cards now I'm retired and occasionally make purchases on them, just to keep them ticking over. I don't know how easily I'd be able to get another one now, but I've never run a credit check on myself, so I don't know how significant this is. I haven't had a loan (other than when we had a mortgage) for maybe 30 years, so I guess things have changed now...
I like just having them as a back up should I need more money than I have already got in easy access (and can then wait for other savings that are time locked, or would lose interest if taken out early).
I could have written you post word for word - spooky.I like just having them as a back up should I need more money than I have already got in easy access (and can then wait for other savings that are time locked, or would lose interest if taken out early).
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