National Savings, how much is it worth now?
Ahleckz
Posts: 36 Forumite
Hello!
Recently came across a 'Children's Bonus Bond' and just curious how much it is worth as of today. I tried phoning National Savings but they said I had to write a letter and request the information & stamps are expensive!
Details:
Purchased - 20th August 1991 for £100.
20th August 1996 worth £175
20th August 2001 worth £242.60.
Also, on the letter I do have, from some time ago (it isn't dated) it says "It will automatically earn a new yax-free guarenteed rate of interest, equivalent to 6.75% per annum if held for the full five years"
I don't have any other letters from them due to a moving and my parents didn't tell the National Savings.
Not sure the rate of the Bonus paid on the 5 years and would like a semi-accurate response and my maths skills are somewhat flawed!
Cheers,
Alex
(Sorry if I posted in the wrong thread!)
Recently came across a 'Children's Bonus Bond' and just curious how much it is worth as of today. I tried phoning National Savings but they said I had to write a letter and request the information & stamps are expensive!
Details:
Purchased - 20th August 1991 for £100.
20th August 1996 worth £175
20th August 2001 worth £242.60.
Also, on the letter I do have, from some time ago (it isn't dated) it says "It will automatically earn a new yax-free guarenteed rate of interest, equivalent to 6.75% per annum if held for the full five years"
I don't have any other letters from them due to a moving and my parents didn't tell the National Savings.
Not sure the rate of the Bonus paid on the 5 years and would like a semi-accurate response and my maths skills are somewhat flawed!
Cheers,
Alex
(Sorry if I posted in the wrong thread!)
0
Comments
-
I'd guess you have to write as the account will now have gone dormant
I'd withdraw the money asap as it will have gone down to a really rubbish rate0 -
From http://www.nsandi.com/products/cbb/whathappensmaturity.jsp
"There’s no need to do anything to continue the Bond – it will automatically start earning the new tax-free, guaranteed rate of interest"
Also they write when the child becomes 21. (maybe they did, to the old address?)
"Please note that no further interest is earned after the Bond has matured" which I take to mean when the person is 21, or maybe the 5 year date thereafter.
From a September 2006 leaflet: "4.25% AER guaranteed compound rate over 5 years, including 5th anniversary bonus." This may be what it is getting now, assuming the holder is not 21.
Best to write off and wait for the reply. Avoid the expensive stamp: just get a prepaid NS&I envelope to Glasgow from the Post Office.0
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