NS&I launches market-leading 2.2% saver - 3 year

Money, investing, mutuals etc

NS&I launches market-leading 2.2% saver - 3 year

Postby expressman33 » Wed Apr 12, 2017 12:41 pm

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Re: NS&I launches market-leading 2.2% saver - 3 year

Postby planteria » Wed Apr 12, 2017 7:43 pm

it's good to see them in the market, but would you tie money up for 3 years at 2.2%? not for me.
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Re: NS&I launches market-leading 2.2% saver - 3 year

Postby underfog » Wed Apr 12, 2017 8:19 pm

Given the almost non-existent rates on offer it is a good investment as long as you won't need the money for three years.
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Re: NS&I launches market-leading 2.2% saver - 3 year

Postby expressman33 » Wed Apr 12, 2017 9:19 pm

Pity the max investment is £3,000
The account is available online only. If you withdraw your money before the three years is up, you’ll forfeit 90 days’ worth of interest.
So if after 12 months you withdraw the money you would still get the equivalent of just over 1.65% ,
leave it in for 2 years and you would still get the equivalent of just over 1.925%

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Re: NS&I launches market-leading 2.2% saver - 3 year

Postby planteria » Wed Apr 12, 2017 9:35 pm

underdog wrote:Given the almost non-existent rates on offer it is a good investment...


i think it is a poor 'investment', along with the vast majority of cash savings accounts in the current market.
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