Cashing in NS&I Index Linked Cert

FATBALLZ

I've got an index linked (RPI+1%) certificate with NS&I. The money tied up in it will be shortly used to fund a desposit on a house, but I'm trying to delay cashing it in for as long as possible as it is making a very nice return at the moment.

How long does it take to cash in a certificate, from applying for your money back to actually getting it in your account?

bigfreddiel

FATBALLZ wrote: »

I've got an index linked (RPI+1%) certificate with NS&I. The money tied up in it will be shortly used to fund a desposit on a house, but I'm trying to delay cashing it in for as long as possible as it is making a very nice return at the moment.

How long does it take to cash in a certificate, from applying for your money back to actually getting it in your account?

Try emailing nsandi - they reply within 4hrs

fj

FATBALLZ

bigfreddiel wrote: »

Try emailing nsandi - they reply within 4hrs

fj

Decided to ring them in the end since it's freephone. Once they have the form they claim you will get the money no later than 8 working days afterwards.

lisyloo

Bear in mind that you have to pay it in though (I think).
I don't think it comes through as a bank transfer I think it's more like a cheque (or a warrant??)
So that's postal time for the form + 8 working days + clearance time.

You should also check on the best time of the month to cash in your certificate.
I have a feeling that you only get full months worth of interest and not days (that might need checking).
If I'm right about that then you would be better off cashing it in straight after a full month.

FATBALLZ

lisyloo wrote: »

Bear in mind that you have to pay it in though (I think).
I don't think it comes through as a bank transfer I think it's more like a cheque (or a warrant??)
So that's postal time for the form + 8 working days + clearance time.

You should also check on the best time of the month to cash in your certificate.
I have a feeling that you only get full months worth of interest and not days (that might need checking).
If I'm right about that then you would be better off cashing it in straight after a full month.

Yeah I asked them about that second bit, I took mine out on the 15th and after a year the interest gets applied monthly on the same day of the month, so I will be cashing mine in immediately after the 15th