Anyone thinking of cashing in the NS&I index-linked savings that came out a year ago?

mr_fishbulb

Think they came out around 12th May 2011 and were withdrawn September time. Paying RPI + 0.5%. They were for 5 years but you could withdraw the money after 1 year.

Couple of questions - what month's RPI will they calculate the first year's interest (does it depend on when you took up the issue?).

How do I cash mine in if I want to get out after the first 12 months?

Cheers

ffacoffipawb

You can cash in at any time, you just get no interest if you cash in in the first year.

http://www.nsandi.com/savings-index-linked-savings-certificates?tabid=c

Cashing in form here:
http://www.nsandi.com/files/asset/pdf/savings-certs-cash-in.pdf

EDIT: I'm keeping mine and also keeping the RPI + 0.25% pa reinvestment of an issue I had that matured last October.

Doesn't look like a new issue is forthcoming.

mr_fishbulb

Thanks for that. I was thinking of cashing in to put the money towards a house deposit, which may or may not happen in the next 12 months. But from the site, as long as I've had it for over a year, I can still cash in between anniversary periods and they'll pay the interest up to when I cash in:

Between anniversary dates
We’ll pay you the most recent anniversary value plus any positive index-linking and fixed interest for each complete month since then.

hillwalker2004

I'm keeping them for as long as its worth my while to do so!

Current rate 3.7% + 0.2% annual bonus = 3.9%

If you are a normal tax payer then you need something paying more than 4.9% each year to make it worthwhile.

Of course there are ISA's around which are tax free, but I use my allowance each year anyway.

At the moment nothing comes close to 4.9% with easy access so its a bit of a no brainer to stay put at the moment. RPI will have to fall a fair bit before I'd even be tempted unless I need the cash for something else.