NS&I 5 year index linked saving certs 2011 issue - half way point!

molerat

Same here. Finding somewhere to put £29K between us is going to be difficult when we have just about all the current account options already. Had a similar problem last year and the easy way to solve it was buying a car - can't really do that again

polymaff

KTF wrote: »

I am leaning towards cashing mine in as well. Especially as there is now a penalty for cashing them in early.

Just have to work out what I would do with it though.

That's the big issue, isn't it? I suppose the nearest equivalent investment, currently, is the 5-year 2.33% NISA from UBL.

Sooner or later the banks must come to their senses and stop this Kamikaze interest-bearing bank account / regular saver war. Then we face grim times.

veryintrigued

I'll probably be cashing mine in too.

Mine are from the 25/5/11 - no renewal paperwork received yet.

Be interesting to see the latest figures on their calc (I momentarily forgot it was Tuesday!!)

veryintrigued

Calculator updated

I get 0.49% up from last month.

15.08% growth so far.

http://www.nsandi.com/ilsc-calculator

polymaff

veryintrigued wrote: »

15.08% growth so far.

That's it!

veryintrigued

polymaff wrote: »

That's it!

I blame copy and pasting!

How does that 3.016% compare with your spreadsheet? Without looking back you were suggesting a couple of months or so ago it wouldn't hit the heady heights of 3%+.

talexuser

My excel says 15.09 but it might just be rounded up :T

Not too bad. might just roll over, even if just RPI plus a couple of molecules.

whattochoose

polymaff wrote: »

£17,263.73, or thereabouts? An effective return of 2.85%. It'll be a while until we see the likes of that again

I checked on the NS&I calculator before, and the amount is £17263.50, so pretty near to you.
My bonds mature on the 14th May, next month. I see the next CPI/RPI date is 17th May, so I suppose I can expect a form soon, and I'll then have to choose whether to stick or twist.
At the moment I'm edging towards cashing in and using the money to open a Santander 1-2-3 account and enjoy an interest rate of 3%, along with cashback interest, particularly attractive now that no tax is payable on the first £1000 of interest.

polymaff

veryintrigued wrote: »

Without looking back you were suggesting a couple of months or so ago it wouldn't hit the heady heights of 3%+.

See my post #277. Now that NS&I have updated, I'm not sure why they and I disagree by 23p!

The annual rate has turned out to be 2.85%, just a tiny bit above the figure I was estimating last year, but well under 3%

polymaff

whattochoose wrote: »

My bonds mature on the 14th May, next month. I see the next CPI/RPI date is 17th May, so I suppose I can expect a form soon, and I'll then have to choose whether to stick or twist.
At the moment I'm edging towards cashing in and using the money to open a Santander 1-2-3 account and enjoy an interest rate of 3%, along with cashback interest, particularly attractive now that no tax is payable on the first £1000 of interest.

Yes, the PSA totally changes the basis for decision-making for the majority - particularly with reference to savings interest which is free of tax. You do realise, by the way, that NS&I's just-updated figure is the redemption value for a May 2011 Issue 48 cert? I wasn't clear why you'd mentioned the May 17th.