Granny takes a dip
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.PENSIONERS tempted to invest their money in a National Savings 'granny' bond can now often get better rates of return from a range of guaranteed monthly income bonds.
For those pensioners who pay tax, a seven-year Consolidated Life bond pays 5.8 per cent net, the equivalent of 7.73 per cent gross, on investments above pounds 2,000. This compares with the 7 per cent gross on the National Savings bond.
Those with sums above pounds 10,000 can now get 6.16 per cent net, equivalent to 8.21 gross, in a five-year General Portfolio bond. Sums above pounds 20,000 qualify for 6.28 per cent, the same as 8.37 gross.
These rates can be improved slightly through Baronworth Investment Services, an Ilford-based firm of financial advisers, which offers a commission-sharing deal to its clients.
Cheltenham & Gloucester has cut the rates on both its onshore and offshore investment accounts by 0.25 per cent. The rates on its Instant 7 account now vary from 5.45 to 6.75 per cent gross; previously the rates varied from 5.7 to 7 per cent.
The rate on the London share account has dropped from 5.7 to 5.45 per cent.
----------------------------------------------------------------- SIX OF THE BEST ----------------------------------------------------------------- Savings ----------------------------------------------------------------- Type Account Term 0% 25% 40% Min pounds GIB Consolidated Life 7 years 6.90 6.90 5.87 2,000 B Soc Northern Rock Instant 6.75 5.06 4.05 25,000 Tessa Hinkley & Rugby 5 years 7.60 7.60 7.60 3,000 Compounded annual rate except for GIB (guaranteed income bond) ----------------------------------------------------------------- Source: Chase De Vere 071-404 5766 ----------------------------------------------------------------- Mortgages ----------------------------------------------------------------- Type Source Deal Variable Northern Rock* 2.99% discounted rate on 90% loans Fixed Bristol & West 7.3% 5yrs on 80% loans Capped Royal Bank of Scotland 7.89% 5yrs on 80% loans ----------------------------------------------------------------- *Arrangement fee of pounds 150. Household insurance through Northern Rock. ----------------------------------------------------------------- Source: John Charcol 071-611 7000 -----------------------------------------------------------------
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments