N S I inflation savings October calcs wrong

talexuser

Today my account login valuation is £213 more than the calculator :eek:

fonesaver

I phoned NS&I, they insist that the calculator is only an estimate but agreed to get someone to check it.

Fella

I'm shamefully thick when it comes to how these are calculated but I THOUGHT it was all to do with the monthly RPI figure you see in the RPI column here:

http://www3.hants.gov.uk/finance/retailpricesindexandconsumerpriceindex.htm

September 2016 is 264.9 which is higher than the August figure of 264.4. It's also higher than the Sept 2015 figure of 259.6. It's also higher than the YoY figure. I was under the impression that meant they'd gone up.

And that it was months were the RPI figure was actually reduced that meant they go down.

Dird

You've all had a haircut to reduce the national debt. Thank you for your service

Greece 2.0

joe134

looks like renewing mine for another 5 years in december, if nothing changes before then.
inflation on the way up, so, expect ns/i to juggle the rates again, before then.

talexuser

Today my log in valuation has reduced by £213 and is £1 less than the roll over starting amount in May. At least it now agrees with the calculator, but is that correct yet (big jump down from last month)?

Fella

Makes no sense whatsoever to me.

Glen_Clark

Just logged into mine and the online valuation is higher than the calculator. (Looks to me like the calculator is correct as I expect they calculate inflation to be very low.)

talexuser

Mine is the opposite, online is £1 less than reinvested, and calculator now £6 more than reinvested. We need polymaff on this thread to tell us the correct figure, and then tell NS&I how to fix their calculator and sack the incompetent doing the programming.

jsinc

Fella wrote: »

I'm shamefully thick when it comes to how these are calculated but I THOUGHT it was all to do with the monthly RPI figure you see in the RPI column here:

http://www3.hants.gov.uk/finance/retailpricesindexandconsumerpriceindex.htm

September 2016 is 264.9 which is higher than the August figure of 264.4. It's also higher than the Sept 2015 figure of 259.6. It's also higher than the YoY figure. I was under the impression that meant they'd gone up.

And that it was months were the RPI figure was actually reduced that meant they go down.

You're right. Example: £17,263.72 May 2016 rollover. Uses Mar & Sep RPI (6 months) plus 0.01% interest rate.

% to date = (0.01% * (6/12)) + (264.9-261.1)/261.1) = 1.46%

£ so far = £17,263.72 * (1 + 1.46%) = £17,515.77