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

whattochoose

polymaff wrote: »

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.

No polymaff, I hadn't realised that. Thank you for clarifying things for me.

redmalc

£2191.60 interest on a 5 year certificate with 15k invested
Not that good then,I think it's time to part company and bang it into the pension and get some of the Goverments money to help.

polymaff

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

Just got the NS&I letter - £17,263.72. The chisellers!

taylornj

redmalc wrote: »

£2191.60 interest on a 5 year certificate with 15k invested
Not that good then,I think it's time to part company and bang it into the pension and get some of the Goverments money to help.

My letter arrived today, same amount £17191.60.

Going to keep either as 3 or 5yr, as they are tax free.

AnotherJoe

taylornj wrote: »

My letter arrived today, same amount £17191.60.
Going to keep either as 3 or 5yr, as they are tax free.

I've got exactly the same figure today in the post and since I've maxed out pension & Santander's and also have some dismal cash ISAs I might move to P2P so I can't think where else to put it, I think I'll roll these also, just need to decide if it's 3 or 5. Probably will go for 3 this time as I plan to be a year into retirement in 3 years time.

HardCoreProgrammer

I invested some money back in 2011. The 5 year term should be coming to an end soon.
RPI +0.01%, and a penalty of 90 days interest for amount withdrawn. Are they serious or what?
We all know that inflation figures are manipulated by the government to make it less than the actual inflation rate (e.g. cost of housing not included).
This is a guaranteed way to lose money! I am out of here.

Vortigern

HardCoreProgrammer wrote: »

RPI +0.01%, and a penalty of 90 days interest for amount withdrawn. Are they serious or what?

Looking on the bright side, 90 days loss of interest at 0.01% pa doesn't amount to very much. The only real penalty is the loss of indexation for the current year and this can be avoided by cashing in just after an anniversary.

gadgetmind

You're actually guaranteed to not lose money, but certainly won't see any return on your capital.

AnotherJoe

HardCoreProgrammer wrote: »

I invested some money back in 2011. The 5 year term should be coming to an end soon.
RPI +0.01%, and a penalty of 90 days interest for amount withdrawn. Are they serious or what?
We all know that inflation figures are manipulated by the government to make it less than the actual inflation rate (e.g. cost of housing not included).

Wholly incorrect. RPI, which these bonds are based on, includes housing cost. Try a different conspiracy theory.

whattochoose

taylornj wrote: »

My letter arrived today, same amount £17191.60.

Going to keep either as 3 or 5yr, as they are tax free.

I got this figure too. The letter tells me this is based on the Retail Prices Index for February 2016, published in March, so I'm presuming there will be some amendment to take account of the April figure, hopefully higher.
I'm cashing mine in, in fact spent part of this morning completing the options form I've received
I'll be re-investing the money in a Santander 1-2-3 account.