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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
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