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Post by moonraker on Jan 23, 2021 14:44:28 GMT
"Savers pulled £26.5bn in final three months of 2020 after cuts in payouts and saving rates.
"NS&I warned it was likely to be more than £9.5bn short of its £35bn full-year funding target by March."I wonder what the answer could be ... 
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Post by wildlife2 on Jan 23, 2021 15:31:18 GMT
.... But more people have been buying premium bonds recently.
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lara
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Likes: 300
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Post by lara on Jan 23, 2021 17:42:27 GMT
Yes, it seems like they didn't think that one through all the way!
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dead-money
Rocket to the Moon
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Likes: 645
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Post by dead-money on Jan 23, 2021 19:56:13 GMT
To be fair the customer service was  before they did their bait and switch on interest rates in 2020.
Silver lining, at least they've closed the offshore call centres and are bringing that back onshore.
But it is ATOS afterall..
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Post by moonraker on Feb 4, 2021 16:22:41 GMT
Just received a letter from NS&I advising that a Savings Certificate is about to mature and offering to renew it at an interest rate of 0.01% plus CBI linking, which "means you may receive a lower return" than with the RPI index.
That's the bad news. The good news is that "even if the rates on offer ... fall between now and the maturity date, you will receive the higher rate".
I am of an age at which adventurous investing is not recommended and I'm in the 40% tax band (well, I was last year) so alternative homes for my money are limited. And I had a wad of cash due from Ratesetter due in early April. With cash ISA rates also low, I'll probably risk investing in stocks & shares.
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before they did their bait and switch on interest rates in 2020.