MSE News: NS&I revives inflation-beating savings certificates

whu

Sceptic001 wrote: »

Indeed, but as others have pointed out, that is the return for ILSCs held between May 2010 and May 2011.

The annual return on ILSCs purchased in May 2011 will depend on the Retail Prices Index to be published in April 2012.

Yes - got it thanks:)

jegjeg

le_loup wrote: »

Silly question. Why not do it on-line?

Very, very elderly - not computer savvy and much prefer quill, ink and paper ...

lisyloo

So who has taken any of these out?

I would have but my job is currently at risk so I'm holding fire.
If I find out next week I still have a job, then I will get some ASAP.

jegjeg

Hereward wrote: »

My guess is that you've downloaded the wrong application form (Fixed Interest Account rather that Index-linked Saving Certificates).

Just checked on forms for both Fixed Interested and Index-linked Certficates. And address Given on Index Linked Savings Certiticates downloaded form is:
Savings Certificates, National Savings and Investments,
FREEPOST GW3276, Glasgow, G58 1BR.


And the address Given on Fixed Rate Savings Certificates downloaded form is the same:

Savings Certificates, National Savings and Investments,
FREEPOST GW3276, Glasgow, G58 1BR.


Suppose it could not have been that easy?

heather8

Here's a link to the RPI table that you need to work out what you get.

http://www.tcsl.co.uk/rpi-and-tax-tables.html

Can someone who understands this check that I have worked it out right for me as I am new to NSI's.

If I had purchased 15000 worth of certificates in May 2010, then the index value is 220.7 (March 10 value), and the index value for May 2011 (Match 2011 on the table) is 232.5, so the difference is 11.8, which applied to 15,000 is £177.00.

So the end of the first year my certificate for 15000 would now be worth 15177.00 ?

Then at the end of the 5 years there would be the .5% to add on for each of the 5 years?

I have just bought 15,000 worth, so my starting point would be 232.5. Reading through all of this, now I know why I didn't bother buying any before, I have a headache!

Thanks.

whu

It's luck of the draw asto when you take it out - I got one in May 2010 so thought I might try and go for June 2011 to hedge my bets but this could be withdrawn by then!!!!

Another question,can I take out the interest I've earned this year if I want to (or more)?I know I won't get the benefit of compounded intererst but if I needed it could I do it without any penalties?

Also does it matter at what stage in the month you purchase a certificate - ie 15 or 22 May - do you just get the figure for March?

I've tried to call NSI since Friday to ask but they have been constatntly engaged!!!!

whu

heather8 wrote: »

Here's a link to the RPI table that you need to work out what you get.

http://www.tcsl.co.uk/rpi-and-tax-tables.html

Can someone who understands this check that I have worked it out right for me as I am new to NSI's.

If I had purchased 15000 worth of certificates in May 2010, then the index value is 220.7 (March 10 value), and the index value for May 2011 (Match 2011 on the table) is 232.5, so the difference is 11.8, which applied to 15,000 is £177.00.

So the end of the first year my certificate for 15000 would now be worth 15177.00 ?

Then at the end of the 5 years there would be the .5% to add on for each of the 5 years?

I have just bought 15,000 worth, so my starting point would be 232.5. Reading through all of this, now I know why I didn't bother buying any before, I have a headache!

Thanks.

That is wrong - check out posts 142 and 143 - you will see you have 5,35% plus whatever the gauranteed sum is for the first of the 5 years - the rate is tiered -so you would have got over £900!!!

Yes your starting point would be 232.5

lisyloo

can I take out the interest I've earned this year if I want to (or more)?

Yes you can withdraw subject to their minimum amounts.

Also does it matter at what stage in the month you purchase a certificate - ie 15 or 22 May - do you just get the figure for March?

No it deosn' matter which day.
But there is no advantage to holding on as in the second case your certificate will mature 7 days later, so you don't gain anything really.

whu

lisyloo wrote: »

Yes you can withdraw subject to their minimum amounts.



No it deosn' matter which day.
But there is no advantage to holding on as in the second case your certificate will mature 7 days later, so you don't gain anything really.

when i get hold of them i'll ask whet the minimum amount is - thanks

SallyG

NS&I say :
"We accept Maestro, Switch, Visa Debit or MasterCard Debit. The debit card must be in your name issued by a UK bank. We’ll start processing your payment as soon as we receive your card details, so please make sure you have enough money in your account when you apply."
So I moved in enough to cover it - my bank have confirmed the payment's been authorised - having so much dosh in my current account makes me twitchy about fraud- how long will it take NS&I to complete the deal/ for the money to exit my current account?