N and P 1 year bond 3.55%

apt

According to the Independent the Norwich and Peterborough one year e-bond is going up to 3.55% on Monday. No withdrawals allowed. http://www.independent.co.uk/money/spend-save/spotlight-on-nampp-oneyear-ebond-2314443.html

dboswell

yes I spotted it on money facts yesterday

King_Of_Bling

dboswell wrote: »

yes I spotted it on money facts yesterday

So, is this a TOP buy then?

Ifts

Its at the top of the best buy chart for Short Term Fixed Rate Bonds @ moneyfacts.co.uk

http://moneyfacts.co.uk/compare/savings/fixed-rate/short-term-bonds/

King_Of_Bling

Ifts wrote: »

Its at the top of the best buy chart for Short Term Fixed Rate Bonds @ moneyfacts.co.uk

http://moneyfacts.co.uk/compare/savings/fixed-rate/short-term-bonds/

Thanks for that

OnlyMe_08

This seems an attractive deal to lock for the next year, are N&P any good?

I also noticed that if on maturity you don't wish to invest in another eBond, they'll close your account and send you a cheque - could they not transfer it to a nominated bank account?

What are people's experiences of this on previous issues?

I don't like the idea of first waiting for that cheque, then having to deposit it and wait for it to clear.

ChiefGrasscutter

Actually they say they MAY return the funds at maturity to you by cheque: that's different.
I suspect they will give you options: reinvest, transfer to another N&P account, withdraw by cheque etc come maturity date......whatever.

Note that only ONE deposit is allowed. You cannot add to it once you have opened it with your lump sum.

OneADay

I had a regular saver with them which matured in October last year.

There is option online to reinvest.

I opted to move the money somewhere else and from looking at my statements and memory, a cheque was received in post within 4 days of maturity OR they sent it direct (I cant remember). But it was four days for the cheque to be received and further 3 days to clear to my current account with halifax.

PS Before I forget - The above was a regular saver (involving a deposit book to be sent back to them by post).

I also had a 6 month saving bond with them and looking back at my statements - there the funds were transferred by BACS from N&P to my Halifax Curent account within 4 days.

Sceptic001

The only minor irritation is that they lock you out of online access if you don't log in within 90 days of your last log-in - but at least they now send an email reminder before doing so...

GillyFlower

Not that good on keeping up to date with savings but if I am correct it seems this is similar as the Post Office Savings Growth Bond (Issue 14) Fixed 1 yr = 3.35%, 2 yr = 3.80%, 3 yr = 4.05%

I need to be looking for some good options for 1 year terms.

As have drawn out our old PEP's etc as now retired, did a posting on this, as too concerned about original money (10 years ago) now dropping in value of shares. Only on State Pension so will do Tax ISA's but still have some allowance to use up.