The reality of 'savings'

It might be worth anyone's while looking into NS&I guaranteed growth bonds. You would have to leave the money in for a fixed term, but at least the original interest is guaranteed to continue up to maturity.

100% safe too.

The problem at the moment is that the best bond rates are all with foreign banks I have never heard of and would not want to put my money in. No doubt they are safe, but everyone thought the Icelandic banks were safe too! We keep a contingency savings account at the bank but it pays next to nothing (as opposed to our current account which pays nothing!). We have some funds maturing this month and have no idea at the moment where to put them. Might have a look at the above JO5, if they're not too long term.

Oh no! Just had a look at National Savings site and they have no guaranteed bonds available at the moment unless you are extending ones you currently hold.

Sorry for that false lead.

Seems like the online savings accounts are the best bet after all.

Tesco account that gives you one year 3 per cent-just opened it-does post and phone as I am allergic to on line banking-heard too many horror stories

This is the first post ever so please bear me. Have you tried Kingdom Credit Unions savings bank?

No.

credit unions are ok

government likes them

I still haven't tried them.

You posted in August this year babydavid1. Thought I remembered your name.

Scottish

But that's ok!

Who could forget that name?

My wee poppet

And they do all those special high interest offers that last for the first few months of a savings account and then they plunge to the lowest of low interest rates.

And some institutions insist on finance reviews if you want to put more than a certain amount in a bond or high interest account. We wanted to put a five figure sum into an account with good interest and decided to go along with the finance review because the rate was good. I thought it might be connected with money laundering but it was clearly a selling opportunity, they thought that as we had the money to invest that we did have we might have more elsewhere that they could entice us into investing with them.

Fortunately DH and I are reasonably knowledgeable on financial matters and make our own decisions about how we manage our money without succumbing to the blandishments of the financial factors. However we are not perfect, which is why I have an ISA full of worthless Royal Bank of Scotland shares, bought when I held my current account there and before Fred Goodwin was put in charge.

babydavid1 The private message from you which I just read says "Is this who I think it is or is it someone whom I don't know".

Are you trying to contact me?

GERALDINE!!!

That'll teach you jingl! Does he think you're his 'wee poppet'?

We too bought RBS shares, Flickety (DH thought it seemed like a good idea at the time!) and watched them plunge. They have made some recovery, but I reckon it's going to be a long time before they are worth what we paid for them. We actually bought them for our grandson, who is currently five, so we are in it for the long term. Just as well! When they start having to pay for the mis-selling fiasco, I expect the price will go through the floor again. Ho hum!

2.99% on an internet saver at Market Harborough Building Society. Sadly cannot take advantage as we live abroad.