3 year Guaranteed Growrh Bond at 2.20%

[Redmires]

Exactly. This board is called "Bank Accounts Savings & ISA's". There are plenty of other boards on the forum discussing other ways of investing and making money, as mentioned. Most of us on Lemon Fool probably have our money spread around and I invest in cash, equities, bonds, premium bonds and others. But there is a need for 100% secure products, and this National Savings bond is one of them. In my circumstances I have recently sold a house and moved into rented. Soon I will be house hunting again so it's imperative that the money is held securely until I'm ready to take the plunge again.

[SKYSHIP]

I stand corrected; but would state that with all those accounts mentioned is there not a 1, 2 even 3 month notice period for withdrawal? If so, then the likes of my alternatives are perhaps more marketable

[GeoffF100]

There is no notice period for the 3 year Guaranteed Growth Bond. Payment is by BACS and takes two working days according to the Brochure.

[RG2017]

Posters on this thread must surely be Market-aware, otherwise why are they on LemonFool?

So, what is it that you are discussing with deposits earning 2.2%pa?

Being market-aware is not synonymous with a desire to maximise income.

For those happy to hold cash, then 2.20% is close to the best available for amounts above a few thousands (high interest current accounts and regular savers are best for smaller sums).

This board is for bank accounts savings and ISAs which is precisely what is being discussed.

[GeoffF100]

I phoned Santander. They said there is a limit for debit card transactions, but it changes every day, and they do not disclose it for security reasons. However, they also said that £40K to NS&I should be OK, but I might have to confirm on the telephone. Par for the course is that the transaction on the NS&I site will time out while I am waiting for an automated call. Santander says that the transaction should go through on the second attempt though. We will see. I will move some more dosh into my Santander account, and give it a try.

[GeoffF100]

The debit card payment went straight through.

[melonfool]

A fly in the ointment is that I have to buy the bonds online with a debit card. In my experience, that limits the amount per deposit to about £20,000. I do not want the admin of multiple bonds, but perhaps I will have to put up with that.

It wasn't a problem for me with a single 50k transaction. Maybe it depends on the bank.

--kiloran

One of my banks (HSBC - business account) limits transactions to £10k. But you can phone them in advance, explain and ask them to lift it for a day.

Nationwide also have a limit but I can't recall now what it is. I suspect they have a similar process.

Mel

[swill453]

The limit can vary depending who you're paying. National Savings & Investments, for example, has a much higher limit than random other recipients.

My bank (First Direct) told me this. They didn't tell me what the limit was, but said £30K wouldn't be a problem.

Scott.

[melonfool]

The limit can vary depending who you're paying. National Savings & Investments, for example, has a much higher limit than random other recipients.

My bank (First Direct) told me this. They didn't tell me what the limit was, but said £30K wouldn't be a problem.

Scott.

That's interesting, but it makes some sense I suppose. A bit annoying as the time I came up against it I was paying myself from my business account and trying to pay myself the annual tax free pay amount! had to do it in two transactions which wasn't great.

Mel

[GeoffF100]

When I spoke to Santander, the lady said that £40K to NS&I should be OK. I got the impression that if the payment was to Joe Blogs it might have been different. I had made payments to NS&I in the past, and that may be significant too, but I do not think that the Santander lady was aware of that. As it happened, I did not even have to type a code into the phone.