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NS&I index linked cashing out early
LannieDuck
Posts: 2,359 Forumite
I have some NS&I index linked savings certificates that I bought years ago and allowed to roll over into the new style certificates last year.
I need to cash them out early (after 1 year) and wondered if anyone could help me interpret the financial penalty that will be imposed?
The penalty is equivalent to 90 days’ interest on the amount cashed in. And you’ll lose the index-linking on your whole Certificate for the investment year in which you cash in.
Does the bit in bold mean:
1. I'll lose the index-linking for the last 365 days of the investment.
2. I'll lose the index linking for the year of the investment I happen to be in.
It's important because Year 1 of the certificates runs until 2 May. Waiting to cash out until after then will be tight for my timescales, but I could do it if 2 is the correct interpretation.
I need to cash them out early (after 1 year) and wondered if anyone could help me interpret the financial penalty that will be imposed?
The penalty is equivalent to 90 days’ interest on the amount cashed in. And you’ll lose the index-linking on your whole Certificate for the investment year in which you cash in.
Does the bit in bold mean:
1. I'll lose the index-linking for the last 365 days of the investment.
2. I'll lose the index linking for the year of the investment I happen to be in.
It's important because Year 1 of the certificates runs until 2 May. Waiting to cash out until after then will be tight for my timescales, but I could do it if 2 is the correct interpretation.
Mortgage when started: £330,995
“Two possibilities exist: either we are alone in the Universe or we are not. Both are equally terrifying.” Arthur C. Clarke
“Two possibilities exist: either we are alone in the Universe or we are not. Both are equally terrifying.” Arthur C. Clarke
0
Comments
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My understanding is that it's the second option, given that they typically deal in investment years from one anniversary of opening to the next, but to be sure there's always http://www.nsandi.com/contact-us0
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I've always interpreted it as your option 2.Free the dunston one next time too.0
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