aju
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Post by aju on Sept 2, 2021 17:00:21 GMT
The time to ditch the premium bonds is getting closer on the assumption that the cash strapped government is not going to sweeten them
Premium bonds AVERAGE prize money payout 1.0%
1 year FSCS fixed rate savings 1.45% and rising. That's an extra £450 quid a year for a 100k couple.
After higher rate tax the premium bonds still pay more (assuming you get almost 1% on average with decent size sums). Zopa is paying better rates 1.4% for 1Y seem to have 5 different rates but the 1y looks a better option now than NS&I. Have set up Mrs Aju a 1Y one and will move my NS&I out and across to her account. Sadly there is only 85k across all the accounts so will need to be mindful of limits.
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agent69
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Post by agent69 on Sept 2, 2021 17:13:41 GMT
After higher rate tax the premium bonds still pay more (assuming you get almost 1% on average with decent size sums). Zopa is paying better rates 1.4% for 1Y seem to have 5 different rates but the 1y looks a better option now than NS&I. Have set up Mrs Aju a 1Y one and will move my NS&I out and across to her account. Sadly there is only 85k across all the accounts so will need to be mindful of limits. But how will you replace the adrenaline rush you currently get at the begining of each month?
That's gotta be worth something.
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Post by overthehill on Sept 2, 2021 18:31:06 GMT
After higher rate tax the premium bonds still pay more (assuming you get almost 1% on average with decent size sums). Zopa is paying better rates 1.4% for 1Y seem to have 5 different rates but the 1y looks a better option now than NS&I. Have set up Mrs Aju a 1Y one and will move my NS&I out and across to her account. Sadly there is only 85k across all the accounts so will need to be mindful of limits.
Zopa's 1 year bond at 1.4% is better than 1.45%, are you sure ?! I wouldn't rush to stuff it all in one place right now, rates are trending higher.
I took out a 2 year fixed 2 weeks ago at 1.41%, tried to cancel it but they are giving me the rubber ear, think I'm too late. Not sure if the 14 days start when you open the account or when the deposit starts earning interest, probably the former.
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aju
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Post by aju on Sept 2, 2021 18:38:27 GMT
Zopa is paying better rates 1.4% for 1Y seem to have 5 different rates but the 1y looks a better option now than NS&I. Have set up Mrs Aju a 1Y one and will move my NS&I out and across to her account. Sadly there is only 85k across all the accounts so will need to be mindful of limits. But how will you replace the adrenaline rush you currently get at the begining of each month?
That's gotta be worth something. Mrs Aju seems to get hits but i don't seem to so I made the decision that the 1.4% (Tax free in her case) could be good punt at the moment. Of course we could wait for a better rate i guess but not sure if they are in upwards for very long. we do have her Zopa savings punt from last year (on the way down) coming free soon so we will need to push that one out again anyway.
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aju
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Post by aju on Sept 2, 2021 18:56:39 GMT
Zopa is paying better rates 1.4% for 1Y seem to have 5 different rates but the 1y looks a better option now than NS&I. Have set up Mrs Aju a 1Y one and will move my NS&I out and across to her account. Sadly there is only 85k across all the accounts so will need to be mindful of limits. Zopa's 1 year bond at 1.4% is better than 1.45%, are you sure ?! I wouldn't rush to stuff it all in one place right now, rates are trending higher.
I took out a 2 year fixed 2 weeks ago at 1.41%, tried to cancel it but they are giving me the rubber ear, think I'm too late. Not sure if the 14 days start when you open the account or when the deposit starts earning interest, probably the former.
I meant 1.4% is better than their recent options that i had noticed. Last one we got on the way down last year was 1.29% before we were left with NS&I rates that then went down too. Where do you get 1.45% from I've not seen that one be very interested. I am a tax payer but it's not going into my account it's going into Mrs Aju's as she is not at the moment. She will be when she gets her SP but that's a couple of years away for the moment.
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Post by overthehill on Sept 2, 2021 20:24:07 GMT
Zopa's 1 year bond at 1.4% is better than 1.45%, are you sure ?! I wouldn't rush to stuff it all in one place right now, rates are trending higher.
I took out a 2 year fixed 2 weeks ago at 1.41%, tried to cancel it but they are giving me the rubber ear, think I'm too late. Not sure if the 14 days start when you open the account or when the deposit starts earning interest, probably the former.
I meant 1.4% is better than their recent options that i had noticed. Last one we got on the way down last year was 1.29% before we were left with NS&I rates that then went down too. Where do you get 1.45% from I've not seen that one be very interested. I am a tax payer but it's not going into my account it's going into Mrs Aju's as she is not at the moment. She will be when she gets her SP but that's a couple of years away for the moment. DF capital at the moment - 1.45% 1 year fixed.
Currently if your earnings are below 12500, you can earn 12500 tax free + 6000 (5000+1000) of savings interest tax free. Along those lines. If you earn less than 12500 you can have more tax free savings interest. If you earn more than 12500 then the amount of tax free savings interest tapers down from 5000. Everyone gets a 1000 of tax free savings interest (maybe not higher rate tax payers)
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aju
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Post by aju on Sept 2, 2021 21:24:28 GMT
I meant 1.4% is better than their recent options that i had noticed. Last one we got on the way down last year was 1.29% before we were left with NS&I rates that then went down too. Where do you get 1.45% from I've not seen that one be very interested. I am a tax payer but it's not going into my account it's going into Mrs Aju's as she is not at the moment. She will be when she gets her SP but that's a couple of years away for the moment. DF capital at the moment - 1.45% 1 year fixed.
Currently if your earnings are below 12500, you can earn 12500 tax free + 6000 (5000+1000) of savings interest tax free. Along those lines. If you earn less than 12500 you can have more tax free savings interest. If you earn more than 12500 then the amount of tax free savings interest tapers down from 5000. Everyone gets a 1000 of tax free savings interest (maybe not higher rate tax payers) Thanks I guess i could cancel the Zopa and get the extra £17 or so but Mrs Aju said she wanted to stay with Zopa! now we have set the ball rolling. The moral of that story I guess is I should check out MSE before assuming that 1.4% was a good deal.  Just in case i want to use them are they still using a secure emailing system as described on trustpilot. I read their info on the site and it seems they use Not sure what that is but probably not for me after all. I also checked out www.which.co.uk/money/savings-and-isas (I have a membership but it seemed to work in incognito without having to login) and it would seem their highest similar 1Y Fixed product was Tandem @1.41% - there was no mention of the DF Captial option but they do tend to be a little behind the curve sometimes.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Sept 3, 2021 7:28:13 GMT
Prize value Winning Bond Holding Area Bond Value Purchased
£25000 8FT057372 £55 Hertfordshire £5 Nov-79
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Post by carol167 on Sept 3, 2021 8:06:14 GMT
2 x £25 this month on the full amount of 50k
My all time average (over 15 years) is currently £52.79 (1.59%) a month (always on the full amount allowed to be invested).
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aju
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Post by aju on Sept 3, 2021 8:17:11 GMT
Forgot to mention our returns on PB's this month were £25 for Mrs Aju on almost top amount and nothing for me. I have removed quite a bit to redirect to Zopa 1.4% 1Y under Mrs Aju as discussed above. For interest made the withdrawal yesterday and NS&I suggested it should arrive on 7th. I guess that might also take longer than that.
I did consider waiting until Mrs aju's 1.29% 1Y finishes at end of month but since i was not getting much hits from NS&I I thought the 1.4% option with zopa might not last of course rates seem to be on the up but who knows what will happen in the coming months. We can of course always pick up a new option when the time comes.
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agent69
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Post by agent69 on Sept 3, 2021 9:11:10 GMT
DF capital at the moment - 1.45% 1 year fixed.
Atom bank offering 1.5% for a 1 year fix
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Post by overthehill on Sept 3, 2021 9:51:11 GMT
DF capital at the moment - 1.45% 1 year fixed.
Atom bank offering 1.5% for a 1 year fix
No. 1 year fix is 0.4%. 3 year fix is 1.52%
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Post by overthehill on Sept 3, 2021 10:12:28 GMT
DF capital at the moment - 1.45% 1 year fixed.
Currently if your earnings are below 12500, you can earn 12500 tax free + 6000 (5000+1000) of savings interest tax free. Along those lines. If you earn less than 12500 you can have more tax free savings interest. If you earn more than 12500 then the amount of tax free savings interest tapers down from 5000. Everyone gets a 1000 of tax free savings interest (maybe not higher rate tax payers) Thanks I guess i could cancel the Zopa and get the extra £17 or so but Mrs Aju said she wanted to stay with Zopa! now we have set the ball rolling. The moral of that story I guess is I should check out MSE before assuming that 1.4% was a good deal. Just in case i want to use them are they still using a secure emailing system as described on trustpilot. I read their info on the site and it seems they use Not sure what that is but probably not for me after all. I also checked out www.which.co.uk/money/savings-and-isas (I have a membership but it seemed to work in incognito without having to login) and it would seem their highest similar 1Y Fixed product was Tandem @1.41% - there was no mention of the DF Captial option but they do tend to be a little behind the curve sometimes.
Sounds like a bit of brand loyalty there for Zopa, keep an eye on that...
Secure emailing system ? Are you referring to MSE ? I'm not sure what you're getting at here or how it matters ?
Those tables on the MSE are usually current and not promotional or panel related. I don't use Which, their member marketing is good though.
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agent69
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Post by agent69 on Sept 3, 2021 10:18:09 GMT
Atom bank offering 1.5% for a 1 year fix
No. 1 year fix is 0.4%. 3 year fix is 1.52%
Where are you seeing 0.4%?
The link I posted says 1.5% for 1 year. The only place I can see 0.4% mentioned is in the archieve rates section, and this only applied up to 23rd August.
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Balder
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Post by Balder on Sept 3, 2021 10:32:37 GMT
I've had £8 worth since 1963 - never won |
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