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NS&I Investment Guaranteed Growth Bonds

Discussing offers, rates and deals on suppliers
mc2fool
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NS&I Investment Guaranteed Growth Bonds

#45741

Postby mc2fool » April 13th, 2017, 1:02 pm

The chancellor's sop to savers announced in the last autumn statement is now available.

NS&I Investment Guaranteed Growth Bonds offer 2.2% (taxable) on £3000 for a fixed term of 3 years, with withdrawals allowed at a penalty of 90 days interest. https://www.nsandi.com/Investment-Guara ... owth-Bonds

It is, according to MSE's tables, a market leading rate for a 3 year fixed account, even beating the best rate from a four year and only just (0.06%) coming 2nd vs a five year. However, only being able to put £3000 into one isn't much of a sop to "serious" savers.

OTOH ... I've been very resultant to tie up any cash for longer than a year for several years now, on the theory that interest rates have been so crap they're bound to go up ... which hasn't worked too well so far :D

So, the sunny side of the £3k limit is that if I open one of these (which I have) and interest rates do go up, it's only better interest on £3K I'll be losing out on :lol:

Kantwebefriends
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Re: NS&I Investment Guaranteed Growth Bonds

#45786

Postby Kantwebefriends » April 13th, 2017, 3:33 pm

mc2fool wrote:NS&I Investment Guaranteed Growth Bonds offer 2.2% (taxable) on £3000 for a fixed term of 3 years, with withdrawals allowed at a penalty of 90 days interest. https://www.nsandi.com/Investment-Guara ... owth-Bonds



When do they get withdrawn from sale?

PinkDalek
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Re: NS&I Investment Guaranteed Growth Bonds

#45790

Postby PinkDalek » April 13th, 2017, 3:41 pm

mc2fool wrote:... So, the sunny side of the £3k limit is that if I open one of these (which I have) and interest rates do go up, it's only better interest on £3K I'll be losing out on :lol:


I thought it would be Foolish not to take up the offer, along the same reasoning as yours, and did so this morning. The process was simple, once I'd asked them to remind me of my password.

If rates go up madly then one can take a hit by cashing in early (losing just 0.5% or so):

Can I withdraw money?

Yes, before the end of the term you can cash in all or part of your Bond online. We will deduct a penalty equal to 90 days’ interest on the amount you cash in.


Edit: Just spotted you'd said as much. More haste less speed!
Last edited by PinkDalek on April 13th, 2017, 3:42 pm, edited 1 time in total.

mc2fool
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Re: NS&I Investment Guaranteed Growth Bonds

#45791

Postby mc2fool » April 13th, 2017, 3:42 pm

Kantwebefriends wrote:
mc2fool wrote:NS&I Investment Guaranteed Growth Bonds offer 2.2% (taxable) on £3000 for a fixed term of 3 years, with withdrawals allowed at a penalty of 90 days interest. https://www.nsandi.com/Investment-Guara ... owth-Bonds

When do they get withdrawn from sale?

Part of the purpose of providing the link was so folks could go and look up such details for themselves ;)

PinkDalek
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Re: NS&I Investment Guaranteed Growth Bonds

#45925

Postby PinkDalek » April 14th, 2017, 2:16 pm

Email from NS&I received early this morning. It includes:

NS&I: we've opened your Investment Guaranteed Growth Bond ...

We have sent you a new secure message to confirm your account details. Please visit nsandi.com and log in to read it. You'll need your NS&I number and password.


Maybe it is another example of the misuse of the word confirm but I've read my secure messages and found nowhere to confirm the (correct) details shown.

That having been said, I think I misused the word Foolish earlier in this thread. Perhaps I should have put it would be foolish not to take up the offer.

mc2fool
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Re: NS&I Investment Guaranteed Growth Bonds

#45929

Postby mc2fool » April 14th, 2017, 2:51 pm

PinkDalek wrote:Email from NS&I received early this morning. It includes:

NS&I: we've opened your Investment Guaranteed Growth Bond ...

We have sent you a new secure message to confirm your account details. Please visit nsandi.com and log in to read it. You'll need your NS&I number and password.


Maybe it is another example of the misuse of the word confirm but I've read my secure messages and found nowhere to confirm the (correct) details shown.

Yeah, I got the same and also found it a bit curious. Actually the first thing I found a bit strange was the debit card transaction receipt from them, which said "Your application was received for processing at hh:mm:ss 13 APR 2017 - subject to your application being accepted, this will be your date of investment.".

Uh? Wot, you mean it may not be accepted for some reason?!? You've already taken my money and already (immediately after I applied) included it in the list of investments I hold in my online account. More curiously, a couple of days before I'd bought a few more premium bonds, and the debit card transaction receipt for that had the same line but without the underlined phrase above. (And, in fact, the card transaction receipt was all I got for those; no other email and no secure message.)

Perhaps what they think the confirmation is that, "You invested £3,000.00 in Investment Guaranteed Growth Bonds on 13 Apr 2017", as the subject of the message is "Confirmationofinvestment" (yes, like that; no spaces). And it does tell you the account number, but of course that can't be a confirmation, per se, as they didn't tell you it before -- although you'd have found it out by looking at the investment in your online account immediately after applying.

And now we still have the excitement (?) of waiting for the welcome pack to arrive ... ;)

stevensfo
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Re: NS&I Investment Guaranteed Growth Bonds

#45966

Postby stevensfo » April 14th, 2017, 7:34 pm

NS&I Investment Guaranteed Growth Bonds offer 2.2% (taxable) on £3000 for a fixed term of 3 years


I love the way they call them 'Growth bonds', when the RPI inflation rate is now 3.2%. Wouldn't a better name be 'Limited Loss bonds'?

What about an honest headline:

" Yes folks. By investing your money with NS&I, you are only losing 1% of your money, rather than 3% if hidden under the mattress. "

:-)

Meanwhile, our NS&I index linked bonds are at least getting us the RPI rate. Why on earth don't they offer them now??


Steve

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Re: NS&I Investment Guaranteed Growth Bonds

#46034

Postby DrBunsenHoneydew » April 15th, 2017, 11:02 am

stevensfo wrote:
Meanwhile, our NS&I index linked bonds are at least getting us the RPI rate. Why on earth don't they offer them now??

Steve


Because that is expensive and they don't really need your savings money anyway.


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