MSE News: NS&I inflation-beating savings to return

lisyloo

Not chance, it WILL be backdated.

So there are never, ever, ever any slip ups at NSI? even when they are inundated?
I don't think so.
I wouldnt' want to make a 100% promise.
But my expectation is the same as yours :-)

alanq

adindas wrote: »

Not quite sure, but someone mentioned that they normally have a new issue every 3 months.

There is no "normally". There are new issues as and when required. Recent issues (when they were available at all) have been at intervals of just over a month to just under a year.
http://en.wikipedia.org/wiki/Index-linked_Savings_Certificates

lisyloo

The point remains though - new issue (whenever it is) equals new allowance.
Personally I think it's really generous although not everyone agrees.

maninthestreet

I applied by post 10 days ago, the cheque I sent was debited from my account on the 20th May - when can I expect to receive some confirmation from NS&I ??

whu

gt94sss2 wrote: »

Well, I've decided to join the club and have applied for some certificates.

Does anyone know how long NS&I are taking to reserve the funds from current accounts, if one applies online?

I see Nationwide are now complaining how 'unfair' i is for NS&I to compete with them for savers - though I don't see Nationwide raising their rates!

Regards
Sunil

It's not unfair - they were stopped last year because the Banks/BS's complained that it was unfair - the govt stopped them and expected the other institutions to become competitive which they have not been - so tough cheese to them

whu

lisyloo wrote: »

They did in the past.
There is no guarantee of what will happen this time.
If you are married or have a partner then you can of course double up, but I'm sure whu hasn't missed that.

You are right - I haven't missed that:)

kar999

I've only just caught up with reading the Finacial Times Weekend edition but found this article very interesting about BoE's current "policy" on inflation (according to Charlie Bean Deputy Governor)....

http://www.ft.com/cms/s/2/933fea12-8302-11e0-85a4-00144feabdc0.html#ixzz1NXuFCDaQ

....So much for the suggestion on the Bank’s website that it “sets interest rates to keep inflation low to preserve the value of your money”.
Instead, it turns out, the deputy governor for monetary policy, Charlie Bean, said in Belfast this week that the MPC’s “chosen approach” has been to accept “a temporary period of above-target inflation” as the price of preventing a double-dip recession.

The maddening thing, of course, is that there isn’t much you can do about this without taking major risks. Obviously, if you haven’t already done so, you should buy the NS&I inflation-linked certificates (which will pay you RPI plus 0.5 per cent tax-free for five years).

How long is temporary? At least these certs don't lock you in and anything longer than a year will pay-out tax-free over and above any RPI index rise.

lisyloo

kar - Any answers are speculation.
Personally I think the recovery will be slow.

As well as your view on RPI you have to take into account the returns you will get elsewhere.
This is not the same for all of us as some of us pay tax at 0%, some at 20% and some at 40%.

No-one can guarantee the rate you will get, but you can research the BOE inflation report and look at consensus forecasts for RPI.

Personally I will be putting £6K (everything I can) into them tonight as soon as I get hold of my certificate number.

SallyG

Restricted to £10k first application by daily debit card limit I returned the signature form a week ago - still no certificate
Has anyone successfully applied for remaining £5k without waiting for the first certificate to arrive -ie applied online without a certificate number as no certificate yet held?

lisyloo

Sally - have you tried phoning them?
I know they've been busy, but they should be able to give you the number over the phone.