NorfolkAYA Posted December 27, 2020 Report Share Posted December 27, 2020 hi all, Any one recommened a savings account online or in branch where I can stick some money with a better interest rate than the 0.05% natwest are offering ? I know the banks are rubbish at the mo but any recommendations would be appreciated. ATB Pete Quote Link to comment Share on other sites More sharing options...
TIGHTCHOKE Posted December 27, 2020 Report Share Posted December 27, 2020 Nationwide Members Bond. Quote Link to comment Share on other sites More sharing options...
AVB Posted December 27, 2020 Report Share Posted December 27, 2020 With base rates where they are you’ll struggle to get anything decent for instant access. There is an online provider, Raisin I think, offering just over 1%. Quote Link to comment Share on other sites More sharing options...
Rim Fire Posted December 27, 2020 Report Share Posted December 27, 2020 I put 40k in premium bonds no interest but i do get quite a few wins throughout the year more than in the bank Quote Link to comment Share on other sites More sharing options...
oowee Posted December 27, 2020 Report Share Posted December 27, 2020 This will give you a range of rates for different periods .18% to 1.04% https://www.youinvest.co.uk/cash-savings#list Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted December 27, 2020 Report Share Posted December 27, 2020 Waste of time in the bank. The bank emailed me start of Covid to say they’re were putting the awful rate offered down even lower, to 0%. Got mine in my stocks and shares ISA. Up 15% in total since I started maybe 2 years ago. Had a slight dip during start of Covid but never went negative. More risk obviously. Best thing I should have done, when I finished Uni I saw a Rolex Air King in the shop I liked, I didn’t buy it. They’re considerably more expansive now and you can’t get one from what I’ve seen. Should have bought it and left it in the box under the bed 🤣 Quote Link to comment Share on other sites More sharing options...
captainhastings Posted December 27, 2020 Report Share Posted December 27, 2020 NSI bonds we don't have much in there but get 25 quid every couple months give or take Quote Link to comment Share on other sites More sharing options...
Wilts#Dave Posted December 27, 2020 Report Share Posted December 27, 2020 1 hour ago, Lloyd90 said: Waste of time in the bank. The bank emailed me start of Covid to say they’re were putting the awful rate offered down even lower, to 0%. Got mine in my stocks and shares ISA. Up 15% in total since I started maybe 2 years ago. Had a slight dip during start of Covid but never went negative. More risk obviously. Best thing I should have done, when I finished Uni I saw a Rolex Air King in the shop I liked, I didn’t buy it. They’re considerably more expansive now and you can’t get one from what I’ve seen. Should have bought it and left it in the box under the bed 🤣 Rolex sports watches are generally waiting list/by invitation only which hikes the secondhand prices up sometimes hugely! submariner ‘hulk’ (green bezel) for example were recently discontinued, were always a several year wait minimum anyway and are now going for 2-3 times rrp as you just can’t get them. Great investments! Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted December 31, 2020 Report Share Posted December 31, 2020 I got a account through principle accounting, not sure if it’s available over there. I’m at 22.4% for this year and 21% last year. It only takes about 48 hours to sell and transfer funds to checking if needed. So not as accessible as a savings but well worth the hassle. If the Democrats wouldn’t have shut our economy down I would have closed out the year in the 30% growth range. Quote Link to comment Share on other sites More sharing options...
JTaylor91 Posted December 31, 2020 Report Share Posted December 31, 2020 I stuck a fair chunk of savings in to a certain airline when the stocks plummeted. Looking at it this morning they are up 162%. Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted December 31, 2020 Report Share Posted December 31, 2020 36 minutes ago, JTaylor91 said: I stuck a fair chunk of savings in to a certain airline when the stocks plummeted. Looking at it this morning they are up 162%. Hello, even in these difficult time the stocks and share market is doing quite well, but you realy need to study the form, , it's still worth investing and can be better than saving accounts, BBC red button give a good idea on shares and companies, Quote Link to comment Share on other sites More sharing options...
Townie Posted January 1, 2021 Report Share Posted January 1, 2021 On 27/12/2020 at 15:31, Rim Fire said: I put 40k in premium bonds no interest but i do get quite a few wins throughout the year more than in the bank This. We get a higher return than most savings accounts and there’s the chance of a big win. You do need a fair amount in bonds though. Quote Link to comment Share on other sites More sharing options...
Pangolin Posted January 1, 2021 Report Share Posted January 1, 2021 Depending how much you have stick it in a house and rent it out. Quote Link to comment Share on other sites More sharing options...
blackbird Posted January 1, 2021 Report Share Posted January 1, 2021 (edited) 51 minutes ago, Pangolin said: Depending how much you have stick it in a house and rent it out. And hope you get a good tenant that will pay the rent & not wreck the house, been there be very careful. Edited January 1, 2021 by blackbird Quote Link to comment Share on other sites More sharing options...
Cosmicblue Posted January 1, 2021 Report Share Posted January 1, 2021 On 27/12/2020 at 15:31, Rim Fire said: I put 40k in premium bonds no interest but i do get quite a few wins throughout the year more than in the bank Me too, similar amount, got £550 back in 2020. Quote Link to comment Share on other sites More sharing options...
AVB Posted January 1, 2021 Report Share Posted January 1, 2021 6 minutes ago, Cosmicblue said: Me too, similar amount, got £550 back in 2020. The interest rate for the premium bond prize fund was reduced to 1% in November so still better than most banks but less than it was. I didn’t get a win in December which is the first time for many months. Quote Link to comment Share on other sites More sharing options...
eddoakley Posted January 1, 2021 Report Share Posted January 1, 2021 1 hour ago, Pangolin said: Depending how much you have stick it in a house and rent it out. It's work but can be rewarding. There are risks but depending on your situation it can be the best option by far. My most recent will return 18 times what it would in the bank pa. (depending on the type of account of course) Any issues that may arise will be more than covered!! Edd Quote Link to comment Share on other sites More sharing options...
blackbird Posted January 1, 2021 Report Share Posted January 1, 2021 The biggest mistake I think many people make is they look at savings accounts (which are very poor at the moment) but they also have loans on cars, credit card dept etc. The logical thing to do is clear your dept first unless it’s on 0% that is. A prime example is my nephew he has £40k in premium bonds but has taken out a PCP on a car at 7% APR. Quote Link to comment Share on other sites More sharing options...
Fuddster Posted January 1, 2021 Report Share Posted January 1, 2021 i've got a wad in premium bonds that ticks over with almost monthly prizes. for me, the best use of money at the moment is working down your mortgage and overpay on it. £1 paid in extra is a full £1 paid off with no interest to add. money in the bank is not working and earning for you. f. Quote Link to comment Share on other sites More sharing options...
oowee Posted January 1, 2021 Report Share Posted January 1, 2021 Premium bonds may have an overall rate of return at 1% but the effective ror is well below 1% allowing for the £1m prize. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted January 1, 2021 Report Share Posted January 1, 2021 1 hour ago, eddoakley said: It's work but can be rewarding. There are risks but depending on your situation it can be the best option by far. My most recent will return 18 times what it would in the bank pa. (depending on the type of account of course) Any issues that may arise will be more than covered!! Edd Yes but the change in the tax laws have really eaten into the profits Quote Link to comment Share on other sites More sharing options...
eddoakley Posted January 1, 2021 Report Share Posted January 1, 2021 54 minutes ago, Vince Green said: Yes but the change in the tax laws have really eaten into the profits True but still better than any bank. I've just bought one for 95k. Pays me £750 a month rent. A little bit of a refurb, some regular admin and then taxed on what's left. Hopefully some capital appreciation eventually. Never plan on selling so no risk to the invested amount if the market crashes. Find an account to match that. Edd Quote Link to comment Share on other sites More sharing options...
Rim Fire Posted January 1, 2021 Report Share Posted January 1, 2021 I bought 3 between 2008 and 2010 i sold 1 last year and still rent other 2 they say don't rent to your family but i have never had any trouble Quote Link to comment Share on other sites More sharing options...
blackbird Posted January 1, 2021 Report Share Posted January 1, 2021 (edited) 1 hour ago, Rim Fire said: I bought 3 between 2008 and 2010 i sold 1 last year and still rent other 2 they say don't rent to your family but i have never had any trouble You haven’t met my family 😂 Edited January 1, 2021 by blackbird Quote Link to comment Share on other sites More sharing options...
Rim Fire Posted January 2, 2021 Report Share Posted January 2, 2021 13 hours ago, blackbird said: You haven’t met my family 😂 That's why i didn't rent to any of them 🤣 Quote Link to comment Share on other sites More sharing options...
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