NS & I 3.95% bond

vigman

Is it possible to open a 3.95 NSI bond with a minimum amount (to establish an account) and then add to it later, or does the first opening amount constitute 'a bond'?

I want to open an NSI account to hold my Coventry building society over 50s balance from last year, but this is taking a while to close. I was wondering whether I could get an NSI opened in radiness for the full balance?

TIA

Vigman

isofa

I'm sure you can only invest one fixed amount at the start and you can't add to it: http://www.nsandi.com/products/ggb/overview.jsp

Best to wait and deposit the full amount when ready.

You can of course invest more money later in another "issue", but the rate might be different.

D1zzy

You cannot add to, but you can open more than 1 bond

barak

See
http://www.nsandi.com/products/ggb/tandc.jsp

Who may invest in Bonds

10.. Individuals aged 16 years or over. You may invest in Bonds:
(a) in your own name; or
(b) jointly with one other individual who is also aged 16 years or over.
You may hold more than one Bond in either or both of these categories.

Investment and holding limits

19. The minimum you can invest in a Bond is £500.

psychic_teabag

If you have never held a bond, applying for a small one first will give you a customer number, and then it should be easier to take out a new bond in the future. OTOH, if your extra funds become available before you've got your customer number, it may complicate things to have two separate new applications. I believe they are very busy at the moment (given how hard it is to get through to their helpline).

musehead

psychic_teabag wrote: »

If you have never held a bond, applying for a small one first will give you a customer number, and then it should be easier to take out a new bond in the future. OTOH, if your extra funds become available before you've got your customer number, it may complicate things to have two separate new applications. I believe they are very busy at the moment (given how hard it is to get through to their helpline).

My 2nd application was rejected - I need to wait until I receive my customer number from my first before applying for another bond.

Muffin99

What psychic teabag and musehead just said.

soulsaver

What Muffin just said...;)

D1zzy

Has any new investor got their customer number yet? How long after returning your signed form did it take?

beardiedog

D1zzy wrote: »

Has any new investor got their customer number yet? How long after returning your signed form did it take?

Got mine yesterday. It took just over a week from posting the application.

tonytsdiver

beardiedog wrote: »

Got mine yesterday. It took just over a week from posting the application.

Can anyone let me know how long it takes the NS&I to cash a cheque ? Having funds in a current account waiting for a funding cheque to be cashed could make you a little vulnerable if those funds were over the FSA 50 k limit for instance !