Martin Lewis’ Saving Advice | This Morning

my Lewis is back now to share his expert advice I thought the money was the music was for the new tax year new tax you yeah probably better off yeah bring your Lebanon better off paying attention I know man this is just gonna be it’s not okay I’m just gonna listen to justice and the Conservatives on the website if people want to go and read it is great sounds good trainer is it Rosana yeah hello Rosana how are you fine thank you right okay where you go asked Martin your question yes hello Val see my guy and yes I’ve got some income bonds and I’ve received information that the text the interest rates going to be going down and I just wanted to define key to give me some advice on where the best place would be to protect so that’s national savings and investment income bonds yeah they are dropping the rate on a lot of products NS&I and so a couple of key questions I’ve asked anyone with savings first of all have you got any debts no not a mortgage no okay good because you often want to look at paying off your debts before you start saving question number two will you be planning ever to buy a house and notice the civil future no not okay because the help to buy icer is if you are if you’re a first-time buyer the place to put your money cuz government adds 25 percent on top so let’s go into it quite simply then we need to look at rate you said twenty thousand pounds and I’m slightly worried I’m going to give this same answer a lot today it’s not because I like them in any way it’s just because the answer does come up it is the Santander 1-2-3 is untouchable for 20,000 pounds three percent interest five percent fee a month now some people I said some of that’s given back by cash back on bills and the people have been saying what do you mean cash back um yeah I don’t really okay if you pay your bills from that account by direct debit then it will give you either one two or three percent cash back on your energy bill on your council tax on your digital TV bill it literally so it gives you an added it’s an added extra it’s an incentive so it will give you cash backs if your pair hundred pounds and it’s giving you one percent cash back you get a pound back and it adds that to your account your council tax bill so if it’s like three thousand pounds yeah you get are thirty Quigley’s one percent on council tax exactly and that will offset the five pound a month theme for many people actually pays the five pound a month fee but even if we forget that and even if we say you’re getting three percent interest and there’s a five pound a month fee as long as more than 7,000 pounds in it now with the new tax-free savings it’s still the best thing on the market you’ve got 20 dollars and this should switch your bank account to Santander 1 2 3 preferably pay all your bills from it as well to offset the fee but there is there isn’t much that’s touching this out there for that amount okay with that Rosana yes thank you how cute thanks you call why was why was the interest rate reduced on the nside ons and I is the government own a savings body and actually in its remit it can’t be too competitive if it’s too competitive it skews the commercial cut savings market so if that if their rates are too good they have to drop them to be in line with other savings I know people find it perverse but that’s just how it looks

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