MSE News: NS&I inflation-beating savings: stick or twist?

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Comments

  • oldvicar
    oldvicar Posts: 1,088 Forumite
    Bought mine on the 29-5-11. This means i now have 13 months. I know the anniversary value but how do i calculate the additional month as i want to cash in next week

    The simplest way would be to use the calculator on the NS&I website. http://www.nsandi.com/savings-index-linked-savings-certificates?tabid=d

    This suggests a total return of £1,045.70 per original £1000 invested (for the 13 months).
  • .... that when I've called them,as I've said on here before, the figure they come up with is not that which the calculator gives....

    I fail to see why if you plug in the EXACT date you bought the certs and the correct issue why the calculator cant come up with the same number as they do on the phone ....

    Any ideas?
  • oldvicar
    oldvicar Posts: 1,088 Forumite
    Very roughly (varies a bit mid-month depending upon date of RPI data publication), it is because the calculator is set up to assume that you are going to cash-in after the next complete month of holding the certificate.

    If you are going to cash in beforehand you need last month's calculator - either having downloaded it in time, or as you say by phoning them.
  • Me:I'd like an up-to-date valuation of my savings certificate.

    NSANDI: Sorry for security reasons we're not allowed to give those over the phone.

    Me:You could last month.

    NSANDI: Do you actually have your date of purchase and amount?

    Me: (I wish I'd said, 'No I was just going to guess some numbers, but I actually said ...) ...yes I do.

    Oh thats all right then ...... and calculates the amount for me !

    Me: can you tell me why the number you give me isnt the same as the online calculator produces?

    NSANDI: which calculator are you using?

    Me: ....err the one on your website

    NSANDI: ...err, well, no I dont actually know why its different .....
  • oldvicar
    oldvicar Posts: 1,088 Forumite
    I always get my valuations in writing ... typically once every five years for each certificate. NS&I automatically write with a valuation, and encashment/re-investment options.

    I really don't understand why anyone would want to keep bothering NS&I for today's encashment valuation unless they are forced sellers and desperately need to know the exact value to be remitted in advance. Do people keep ringing up banks to ask how much interest they would get if they closed their account today?

    To keep an eye on how well an ILSC is performing the online valuation tool is fine - its an accurate figure for certificates one year old or more, just sometimes it looks forward to what a certificate will be worth shortly in the following month rather than right now - it is always clear on the web page.
  • Looter
    Looter Posts: 131 Forumite
    If and when a new issue comes out can you invest more than once in the same issue as long as the total doesn't exceed £15k? For example, could I invest £10k and a couple of weeks later invest £5k?
  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    Looter wrote: »
    If and when a new issue comes out can you invest more than once in the same issue as long as the total doesn't exceed £15k? For example, could I invest £10k and a couple of weeks later invest £5k?

    Yes if they are still available.
  • oldvicar wrote: »
    The simplest way would be to use the calculator on the NS&I website. http://www.nsandi.com/savings-index-linked-savings-certificates?tabid=d

    This suggests a total return of £1,045.70 per original £1000 invested (for the 13 months).

    Thanks for that. It says that figure if i cash in july but does that mean i have to wait until 29th july as i bought on the 29th may.
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    Thanks for that. It says that figure if i cash in july but does that mean i have to wait until 29th july as i bought on the 29th may.
    Yes. But don't wait, because you'll get more if you cash in before then.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • pqrdef wrote: »
    Yes. But don't wait, because you'll get more if you cash in before then.

    Many thanks, i rang them this morning and the interest is £458.31 on the £10K i invested which i am happy with
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