Savings Rates

Unread post by **Kendhni** » 28 Jul 2013, 13:58

I have a maturing bond and it is being offered a rate of 1.5% if I put it into another 1 year bond or, the default product it will be moved to will have the stunning interest rate of ... wait for it ... drum roll ..... 0.1%.

The best I can come up with is 3% (tax free) ... I have tried various comparison sites but to no avail ... does anybody know of any decent savings rates out there?

Unread post by **Mervyn and Trish** » 28 Jul 2013, 14:01

I certainly can't beat 3% Ken. That seems to be at the top end of what's around at the moment.

Unread post by **david63** » 28 Jul 2013, 14:33

Not savings as such but our financial advisor is getting us 6%+ on longer term investments.

Unread post by **towny44** » 28 Jul 2013, 16:03

Ken, 3% seems excellent in todays market, however do be careful that the provider is covered by the FSCS and that your money is safe if they fail.

Unread post by **Dark Knight** » 28 Jul 2013, 17:39

given the feeble interest rates, we elected to keep X in one account for emergencies and spent the rest as part of the deposit on the new house
we thought it much better to reduce the mortgage as much as possible rather than hope we could find a decent return elsewhere

Unread post by **Romig1** » 28 Jul 2013, 17:42

Best return on investment for us are the Carnival shares. We've managed a double-digit return last year and about 8% this year.

Unread post by **Kendhni** » 28 Jul 2013, 18:20

I already hold both Carnival and RCI shares ... Both doing well.
I dont want to put it into investments and i have already maxed out ISAs this year ... I guess 3% is as good as it gets.

Unread post by **Meg 50** » 28 Jul 2013, 18:25

Premium bonds?

Unread post by **Romig1** » 28 Jul 2013, 18:26

Meg, I think the average return on Premium Bonds was reduced again last week.

Unread post by **ChesterfieldJohn** » 28 Jul 2013, 18:31

Romig1 wrote:
Meg, I think the average return on Premium Bonds was reduced again last week.

I have had some premium bonds that were bought when I was born and not won anything on them, that must be a minus interest rate

John

Unread post by **Dark Knight** » 28 Jul 2013, 18:32

last few years we have spent on art, which has showed a decent return

Unread post by **Romig1** » 28 Jul 2013, 18:39

ChesterfieldJohn wrote:
Romig1 wrote:
Meg, I think the average return on Premium Bonds was reduced again last week.

I have had some premium bonds that were bought when I was born and not won anything on them, that must be a minus interest rate

John

But John, you still have your original stake. Don't forget, that £1 which would have paid for a night out all those years ago will now pay for a pint of lime and soda (if you are very lucky)

Unread post by **Kendhni** » 28 Jul 2013, 18:48

ChesterfieldJohn wrote:
Romig1 wrote:
Meg, I think the average return on Premium Bonds was reduced again last week.

I have had some premium bonds that were bought when I was born and not won anything on them, that must be a minus interest rate

John

You have the same luck as me then

Unread post by **Manoverboard** » 28 Jul 2013, 18:53

So ... purely out of interest what are 3 x £1 Premium Bonds purchased in 1972 worth today ?

Unread post by **david63** » 28 Jul 2013, 19:09

Manoverboard wrote:
So ... purely out of interest what are 3 x £1 Premium Bonds purchased in 1972 worth today ?

If you have to ask then I suspect you already know the answer - but just in case you don't then the answer is ...

... zilch

Unread post by **Romig1** » 28 Jul 2013, 19:10

david63 wrote:
Manoverboard wrote:
So ... purely out of interest what are 3 x £1 Premium Bonds purchased in 1972 worth today ?

If you have to ask then I suspect you already know the answer - but just in case you don't then the answer is ...

... zilch

Point of order.... they are worth £3

Unread post by **david63** » 28 Jul 2013, 19:11

Romig1 wrote:
david63 wrote:
Manoverboard wrote:
So ... purely out of interest what are 3 x £1 Premium Bonds purchased in 1972 worth today ?

If you have to ask then I suspect you already know the answer - but just in case you don't then the answer is ...

... zilch
Point of order.... they are worth £3

But not the same £3 they were worth when bought!

Unread post by **ChesterfieldJohn** » 28 Jul 2013, 19:28

Romig1 wrote:
ChesterfieldJohn wrote:
Romig1 wrote:
Meg, I think the average return on Premium Bonds was reduced again last week.

I have had some premium bonds that were bought when I was born and not won anything on them, that must be a minus interest rate

John
But John, you still have your original stake. Don't forget, that £1 which would have paid for a night out all those years ago will now pay for a pint of lime and soda (if you are very lucky)

Certainly not a Pint of pedigree

I keep saying I am gonna cash em in, but they are in the loft and every time I go up there I forget about them

John

Unread post by **Silver_Shiney** » 28 Jul 2013, 20:14

ChesterfieldJohn wrote:
Romig1 wrote:
Meg, I think the average return on Premium Bonds was reduced again last week.

I have had some premium bonds that were bought when I was born and not won anything on them, that must be a minus interest rate

John

Me too - it's not even worth cashing them in

Unread post by **Dancing Queen** » 28 Jul 2013, 20:17

Manoverboard wrote:
So ... purely out of interest what are 3 x £1 Premium Bonds purchased in 1972 worth today

A million pounds if Ernie happens to randomly select it

Unread post by **Silver_Shiney** » 28 Jul 2013, 20:18

Romig1 wrote:
david63 wrote:
Manoverboard wrote:
So ... purely out of interest what are 3 x £1 Premium Bonds purchased in 1972 worth today ?

If you have to ask then I suspect you already know the answer - but just in case you don't then the answer is ...

... zilch

Point of order.... they are worth £3

£3 in today's terms, yes, but after inflation, £33.56. The £4-worth bought for me would now be worth just under £90

Unread post by **Silver_Shiney** » 28 Jul 2013, 20:33

You say you are max'd out on ISAs. Is that cash, stocks and shares, or both? You can transfer between providers to get a better rate - but don't EVER withdraw the capital yourself to open a replacement, you be considered a new investor and the annual limits will apply, potentially leaving you with capital outside the tax-free wrapper.

Have you still got a mortgage? Chances are the interest charged is more than the best savings rate. Reduce your mortgage, or any other debts first.

Consider Unit Trusts. Pick the right funds, the returns CAN be much higher. For example, Jupiter Merlin Balanced Portfolio has increased my capital by over 16% in two years.

How soon do you need the money? If not until retirement, consider adding it to your pension.

Unread post by **Lincoln18** » 29 Jul 2013, 03:36

Investment Trusts.

Unread post by **Kendhni** » 29 Jul 2013, 08:07

Working down your list SS ...

ISA's, full S&S allowance used up this year (actually by moving other investments into an ISA wrapper)

Mortgage .. not worth talking about. I have already used it as a dumping ground for some capital .. let's just say if you bought a pizza it would cost you more than my monthly mortgage repayments

Unit Trusts/OEICS/etc. ... I was hoping not to put this money into investment funds. JM has done very well over the last couple of years (I hold that in my portfolio) ... but I am under the impression that the phrase 'in a rising tide any rusty old tub will float' applies. To be honest, I think this is the way I may have to go, but I believe the markets are high at the minute and therefore a bad time to buy in.

Pension ... I have watched the annuity rates halve over the last decade or so and, given that the previous government refused to tackle the issue and the current government is focused more on dealing with the huge deficit/borrowing, I have a fear that some future government may do a grab on private pension funds to fund their own schemes (where its own members are paying nowhere near enough to meet the promises). This has happened in several countries already and has not been fully moved off the table in others (including the UK). Therefore I want to keep it away from the government (hence why I also have some off shore accounts .. but they are giving poor returns as well.

Unread post by **Silver_Shiney** » 29 Jul 2013, 08:50

Kendhni wrote:
Unit Trusts/OEICS/etc. ... I was hoping not to put this money into investment funds. JM has done very well over the last couple of years (I hold that in my portfolio) ... but I am under the impression that the phrase 'in a rising tide any rusty old tub will float' applies. To be honest, I think this is the way I may have to go, but I believe the markets are high at the minute and therefore a bad time to buy in.

It's not generally reported in the press, but analysts are expecting a major crash around October/November. That would be the time to buy back in.

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