If your original deposit amount returns a loss, QIB (UK) shall make good the amount of any shortfall that you may have suffered. You shall therefore be entitled to receive payment from QIB (UK) of the full amount that you had previously deposited. Note that there is no requirement for QIB (UK) to pay any form of profit to you under this “‘Make Good’ Offer”.
Taipan wrote: Sat Dec 03, 2022 9:23 am
Anyone got an actual link to a product that i can put my PB money in for a year with a minimum of 4% then?
Download the Atom Bank app, when you get to the product bit swipe across and find the 4.35% one. Up to £85k fully protected, and no need to leave your armchair.
My mortgage provider (one of the big high street outfits) are offering 4.75% for 3 years. Seems like you can only get 3.75% if you're a new customer. Might be worth checking with your own bank.
It was quite buried on their site 'cause it's a fixed rate bond rather than a saving account.
Mr. Dazzle wrote: Sun Dec 04, 2022 7:43 pm
My mortgage provider
Most of the people on here are investing in funeral plans, not mortgages.
Only requirement is that you're am existing customer of some sort.
Gotta admit, I never think of myself as a customer of this particular bank, my Mortgage is the only thing I have with em. But they probably make more money off me than my "regular" bank
I’m assuming they have added more to the pot as a result of the BoE rate rise.
By the by. RCI bank is one of the fastest to increase savings rates. They’re not big but are constantly reliable and don’t go in for short lived gimmicks.
Potter wrote: Wed Dec 14, 2022 9:20 am
I didn't think you paid capital gains on UK savings? I thought it was classed as income and after £1000 you pay normal tax on it like you would any other income (after your personal allowance)?
I.e. you don't pay anything based on the capital, just the income it generates.
Yeah that ^^^. Most people will get the £1000 'limit', the only way to be less than that is if you earn quite a low salary, in which case you probably don't have £50k to save.
The bit I'm not sure on is if you buy a fixed rate bond. Even though it's billed as a saving's account you're actually buying something? So if you did a 2 year fixed "deal" and made 4.5k on 50k would you be deemed to have made 4.5k of capital gains? Which from 2024 onwards would attract CGT.
Last edited by Mr. Dazzle on Wed Dec 14, 2022 9:28 am, edited 1 time in total.
KungFooBob wrote: Wed Dec 14, 2022 8:28 am
If you put 50k (the max for PB's iirc) in Atom Banks fixed saver for two years, you'd make just under £4.5k.
Leave it in premium bonds and you'd make £3000, so a net loss of £750 a year or £62 a month - unless you won decent prizes and then you could potentially win a million.
If you can afford to leave 50k sitting somewhere then you're probably not arsed about £62 a month and I'd weigh that off against the chance of winning big.
Knowing you're going to get £4.5 K Vrs Knowing you 'should' get £3k but you could get so much more.
Bear in mind I'm not a financial guy at all, but for me getting my mortgage paid off was always a priority. Whatever happened, we'd always have a roof over our heads! It was a financial millstone that I was very glad to see the back of, especially given the financial crisis we're currently heading into! Remember most people cut the cloth to suit the wallet, so regardless of income, its the unavoidable, recurrent costs that get you when it hits the fan!
