We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
NS&I question
kikid_2
Posts: 4 Newbie
Hi, I hope I don't sound too dumb with this question (I think it's the bond part that's confusing me....)
When you open a NS&I 5 year fixed bond does it work the same as normal savings account apart from lost interest on withdrawal - i.e once opened can you pay more money in? and if so how does the interest/fixed rate work - does the date for 'fixing' depend on the last date on money paid in?
Does this make sense? Basically if I opened account now with £500 and then added another £2,000 next month would the 5 year fixed time be when that £2,000 was added?
I'd be very grateful for any advice
When you open a NS&I 5 year fixed bond does it work the same as normal savings account apart from lost interest on withdrawal - i.e once opened can you pay more money in? and if so how does the interest/fixed rate work - does the date for 'fixing' depend on the last date on money paid in?
Does this make sense? Basically if I opened account now with £500 and then added another £2,000 next month would the 5 year fixed time be when that £2,000 was added?
I'd be very grateful for any advice
0
Comments
-
No you can only pay in once and you will then receive the fixed rate of interest for the 5 years from the opening date.Hi, I hope I don't sound too dumb with this question (I think it's the bond part that's confusing me....)
When you open a NS&I 5 year fixed bond does it work the same as normal savings account apart from lost interest on withdrawal - i.e once opened can you pay more money in? and if so how does the interest/fixed rate work - does the date for 'fixing' depend on the last date on money paid in?
Does this make sense? Basically if I opened account now with £500 and then added another £2,000 next month would the 5 year fixed time be when that £2,000 was added?
I'd be very grateful for any advice
If you want to pay in additional funds, you need to open a second Bond0 -
great, thanks for much for your help0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards