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NS&! 2015 1year bond
brickeyman
Posts: 2 Newbie
Can anyone explain how the interest is worked out on the NS&I one year guaranteed growth bond that will shortly come to the end of its term. Quoted rate was 2.8% yet interest at maturity after 1 year is shown to be £224 on £10k invested. That's not 2.8%!. Thanks
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Comments
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Take tax off and it is0
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See Key Features on page 2
Tax status
• Taxable, paid net
If you are not a taxpayer you will need to claim it back with an R400 -
ColdIron,
Thanks for that. I didn't see the blindingly obvious!! Thought it was paid gross.
Cheers0 -
That applies to Income Bonds. "Pensioner Bonds" are 65+ Guaranteed Growth Bonds which are not listed on that page as they are no longer on sale.
These bonds were on sale until May 2015. Any that mature after the end of the current tax year will have interest paid gross.0
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