NS&I Investment Bond

Pdman

Bond now available at ns&i.

dekkard

NS&I told me "whenever you invest more, you open a new account."

So if you put, say, £100 in to start with, any additional monies added thereafter go into separate accounts.

They continued:
"You'll use up part of your £3,000 allowance each time you invest but whenever you make a separate investment, it'll be set for its own 3 year term so it'll be separate from the previous investments you made. The interest is calculated on the individual accounts/investments."

ColdIron

They're correct, that's how it works. See section 24 in the T&Cs

https://www.nsandi.com/files/published_files/asset/pdf/investment-guaranteed-growth-bonds-brochure-print-friendly.pdf

See section 7 as well, the 2.2% isn't guaranteed for all issues

londonlydia

I've opened one up with a spare £3k not doing anything at present. Will come back in three years and see if it was worth it regarding inflation, but to be honest, the amount of work I have to do to look after my money I thought it was easy enough to chuck into and forget about for now.

I would like to see more investments with higher caps though - having my money spread out over lots of accounts and investments to grab OK rates is just ridiculous. I would have invested more in this if it had been higher (I wouldn't choose the option of joint accounts so that's out of the question).

bigadaj

londonlydia wrote: »

I've opened one up with a spare £3k not doing anything at present. Will come back in three years and see if it was worth it regarding inflation, but to be honest, the amount of work I have to do to look after my money I thought it was easy enough to chuck into and forget about for now.

I would like to see more investments with higher caps though - having my money spread out over lots of accounts and investments to grab OK rates is just ridiculous. I would have invested more in this if it had been higher (I wouldn't choose the option of joint accounts so that's out of the question).

You seem to have missed the point of this and other higher rate offerings.

They are either PR offerings to throw a bine to people with limited savings at a rate higher than offered in the open market by the government, or teh commercial offerings are advertising to draw people in for limited amounts on current accounts or regular savers, with the banks hoping they can sell credit cards, loans, mortgages etc at higher rates to make a commercial return.