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NS&I Announces Reduction in Interest Rates
Posted: February 17th, 2020, 9:23 pm
by yorkshirelad1
NS&I Announces Reduction in Interest Rates
17 February 2020
https://nsandi-corporate.com/news-research/news/nsi-announces-reduction-interest-rates(Posting here to make it more visible, although already trailled - buried - in Premium Bond thread)
Re: NS&I cancels announced Reduction in Interest Rates
Posted: May 18th, 2020, 10:40 am
by PinkDalek
Putting this on this Topic although it has most likely featured elsewhere (amending the header slightly):
NS&I SUPPORTS SAVERS IN THIS UNPRECEDENTED TIME
17 April 2020https://nsandi-corporate.com/news-resea ... ented-timePlanned interest rate reductions on NS&I variable rate products, including Premium Bonds, will not now be implemented.
The cancellation of these interest rate reductions will support savers during the coronavirus pandemic. ...
Re: NS&I cancels announced Reduction in Interest Rates
Posted: May 19th, 2020, 9:43 am
by yorkshirelad1
PinkDalek wrote:Putting this on this Topic although it has most likely featured elsewhere (amending the header slightly):
NS&I SUPPORTS SAVERS IN THIS UNPRECEDENTED TIME
17 April 2020https://nsandi-corporate.com/news-resea ... ented-timePlanned interest rate reductions on NS&I variable rate products, including Premium Bonds, will not now be implemented.
The cancellation of these interest rate reductions will support savers during the coronavirus pandemic. ...
Let's not forget the bit which says
NS&I wrote:Fixed term product interest rate reductions, also announced in February, will go ahead as planned and will become effective from 1 May 2020.
Re: NS&I Announces Reduction in Interest Rates
Posted: May 21st, 2020, 4:30 pm
by Bouleversee
And now that inflation has in theory dropped to next to nothing (I bet they don't take into account the size reductions in contents of boxes and packets), we'll be getting next to nothing on our index-linked savings certificates.
Re: NS&I Announces Reduction in Interest Rates
Posted: May 21st, 2020, 4:38 pm
by swill453
Bouleversee wrote:And now that inflation has in theory dropped to next to nothing (I bet they don't take into account the size reductions in contents of boxes and packets)
I bet they do.
And they also take into account things like a pint of beer in a pub, and a haircut. Good luck with that!
(They estimate the cost, the technical term is "impute".)
Scott.
Re: NS&I Announces Reduction in Interest Rates
Posted: May 21st, 2020, 5:28 pm
by Bouleversee
So will they be imputing zero costs for those 2 items since we can't get them at all now?
Re: NS&I Announces Reduction in Interest Rates
Posted: May 21st, 2020, 5:53 pm
by chas49
Bouleversee wrote:So will they be imputing zero costs for those 2 items since we can't get them at all now?
According to
https://www.ons.gov.uk/economy/inflatio ... /april2020As a result of the ongoing coronavirus (COVID-19) pandemic, we identified 90 CPIH items (or 16.3% of the CPIH basket by weight) that were unavailable to consumers in the UK, as detailed in Coronavirus and the effects on UK prices; compared with the February 2020 index (the most recent “normal” collection), we have collected a weighted total of 77.8% (excluding unavailable items) of the number of price quotes for the April 2020 index, although the coverage varies across the range of items.
I *think* that means they've adjusted the 'basket' to exclude things we can't get.
Re: NS&I Announces Reduction in Interest Rates
Posted: May 21st, 2020, 6:24 pm
by Bouleversee
I wonder what my hairdresser and dentist weigh. So when they are allowed to operate again at vast expense (probably increased to cover lost earnings during Covid) will the inflation rate shoot up again? I don't think there was any weight on the half-empty box of porridge sachets or the pack of Mars bars which had large empty spaces at the end of the wrappers. I find it hard to believe that they allow for the deception practised by retailers now.
Re: NS&I Announces Reduction in Interest Rates
Posted: May 22nd, 2020, 9:26 am
by dealtn
Bouleversee wrote:I bet they don't take into account the size reductions in contents of boxes and packets.
I'll take that bet, thanks.
Re: NS&I Announces Reduction in Interest Rates
Posted: May 22nd, 2020, 9:27 am
by dealtn
Bouleversee wrote:So will they be imputing zero costs for those 2 items since we can't get them at all now?
I think you might be better discussing this on an "inflation" chat, if you genuinely want you learn the answers to these kind of questions.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 21st, 2020, 10:27 am
by swill453
Reductions back in earnest now
https://www.nsandi.com/our-productsLooks like they really don't want our money.
Scott.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 21st, 2020, 1:30 pm
by supremetwo
Income Bonds Rates/info 1.15% / 1.16% gross/AER until 23 November 2020
0.01% / 0.01% gross/AER from 24 November 2020
Savers being robbed back in earnest.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 21st, 2020, 1:32 pm
by Mike88
I've reached the conclusion there is little point shifting money around s they will all offer rotten rates in time. The NS&I reductions are however brutal.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 12:27 pm
by Steveam
Thank heavens for my long held (and rolled forward) Index linked savings certificates.
Best wishes,
Steve
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 1:43 pm
by Bouleversee
Steveam wrote:Thank heavens for my long held (and rolled forward) Index linked savings certificates.
Best wishes,
Steve
Hear, Hear! At least they will keep up with inflation, we hope.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 2:04 pm
by AleisterCrowley
Bouleversee wrote:Steveam wrote:Thank heavens for my long held (and rolled forward) Index linked savings certificates.
Best wishes,
Steve
Hear, Hear! At least they will keep up with inflation, we hope.
I have some - any chance they could stop the roll forward/over in the future ?
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 4:11 pm
by Bouleversee
Nothing would surprise me.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 4:13 pm
by yorkshirelad1
AleisterCrowley wrote:Bouleversee wrote:Steveam wrote:Thank heavens for my long held (and rolled forward) Index linked savings certificates.
Best wishes,
Steve
Hear, Hear! At least they will keep up with inflation, we hope.
I have some - any chance they could stop the roll forward/over in the future ?
Everything else is geting stripped back when it comes to savings certificates and SCs haven't been on sale for new purchases for ages.
OTOH, it's a free loan to the government (exc for 0.01% interest and CPI index linking) by the holders of savings certificates, and the govt needs all the money it can get hold of at the moment (and probably doesn't want to be having to hand money back if rollover stops).
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 9:29 pm
by Myfyr
supremetwo wrote:Income Bonds Rates/info 1.15% / 1.16% gross/AER until 23 November 2020
0.01% / 0.01% gross/AER from 24 November 2020
Savers being robbed back in earnest.
That looks like 83p a month in interest on £100,000 (down from about £95.00).
Not much of an income
Watch out for the big exodus in funds.
Re: NS&I Announces Reduction in Interest Rates
Posted: September 22nd, 2020, 10:15 pm
by AleisterCrowley
On the plus side, less risk of busting the personal savings allowance, even for higher rate taxpayers
