NS&I Saving Certificates

duggo1

That's what I thought - will wait to the first of May to put in 15K - I think he doesn't get interest on his incentive saver in the month he makes a withdrawl so we may as well wait, unless for some reason it would be best to invest quickly in the index linked thingy as the rate was higher this month?

arjar

Thanks Consumerist - that's just what I was looking for; it gives some context for judgement of the existing offer.

Now I just need to get my head around the effect of investing in these certs. at different parts of the inflation cycle.

As an aside - the rapid rate changes in 2008 look rather peculiar. I asume that anyone who invested for 3 years at +0.25% in April would have sold up and reinvested at +0.7% in May, and perhaps (cursing), done the same again to get +1% in June. Potentially lots of aggro, and lots of churn for NS&I. There must be a story there somewhere.

Cheers

arjar

duggo1 wrote: »

That's what I thought - will wait to the first of May to put in 15K - I think he doesn't get interest on his incentive saver in the month he makes a withdrawl so we may as well wait, unless for some reason it would be best to invest quickly in the index linked thingy as the rate was higher this month?

Duggo - I'm about to do exactly the same thing - transfer £ from Lloyds Incentive to buy NSI certs. I suggest you look carefully at your Lloyds statement to see when your 'month' starts, as I think they apply the 'no interest' rule to the anniversary date of the account opening. In other words, I think it depends on which day of the month you opened the account, rather than running with calender months.

Worth checking with Lloyds to be sure, rather than accidentally losing a months interest on the whole balance!

duggo1

Thanks arjar - will get him to check his account opening date and then check with Lloyds

duggo1

Ajar, I found this in the terms and conditions for incentive saver, so sounds like you are right:

2.4 If you make a withdrawal in a month you will not earn interest on the Account in that month. A month is taken from the date of account opening, and will fall on the same date each calendar month (or the next working day if this is a non-working day or there is no such date in any particular month)

alanq

A couple of earlier issues are mentioned on Wikipedia.
http://en.wikipedia.org/wiki/Index-linked_Savings_Certificates

felix96

Sorry if I have replied in the wrong way only I have found the webiste hard to use and I am failry new to it. I only have one question to ask which NS&I cant answer or wont. Does anyone know what the maximum amount os NSI savings certificates you can hold altogether? It used to be £95000. Has the maximum been removed? I cant find anything on the website and I have emailed them twice and they cannot seem to answer this.
Appreciate any response
Thanks

RayWolfe

Depends upon what type of certificates. It's all on their website. Have you looked?

Sceptic001

felix96 wrote: »

Sorry if I have replied in the wrong way only I have found the webiste hard to use and I am failry new to it. I only have one question to ask which NS&I cant answer or wont. Does anyone know what the maximum amount os NSI savings certificates you can hold altogether? It used to be £95000. Has the maximum been removed? I cant find anything on the website and I have emailed them twice and they cannot seem to answer this.
Appreciate any response
Thanks

There is a maximum of £15k per issue. There is no overall maximum.

RayWolfe

Sceptic001 wrote: »

There is a maximum of £15k per issue. There is no overall maximum.

That's for Index Linked. Don't think it applies to other products.