Cashing in of 65+ Guaranteed Growth Bonds

Ken68

There are switching forms here : https://www.nsandi.com/downloads-and-forms.
though I prefer to send all maturing funds from NS&I and others to the same nominated account, makes it easier at year end.

teddysmum

There were details, in the introductory pack, abut the penalties for withdrawing early. I have feeling it meant dropping to the one year rate.


The big question is 'Where do we put the money now?'

Primrose

[QUOTE=teddysmum;73555696

The big question is 'Where do we put the money now?'[/QUOTE]

I think ours will go towards to making some use of the new ISA Allowance in some way I can’t see a future government of a different complexity being so generous towards savers in this respect although when you look around there are no very exciting options are there?

retiree

The options are now online at https://www.nsandi.com/files/published_files/asset/pdf/65-guaranteed-growth-bonds-maturity-leaflet.pdf

GillyFlower

Well - I need to make my decision now! Head going around in circles and I can manage to keep the savings tied up for another 3 years. (Well hopefully)

So looking around and less hassle it seems to let it be reinvested as their letter into their standard Guaranteed Growth Bond at a guaranteed rate of 2.20% is the simplest option. (I know there will be a penalty of taken out early, etc but it seems they are all writing that one in aren't they?)

I am 73 this year - and swapping things around for what to gain .05% or something just seems too much for me at moment. (My 95 year old Mum usually independent has taken poorly so I am all over the place taking care of her.)

Has anyone else felt the same? Or - found a bargain!

le_loup

Sounds like a very sensible option in your circumstance.

parksider

I opted for cash at maturity (17th Jan) about a week ago, to my current account. They actually paid into my current account on 15th Jan, but it was £2.55 less than that quoted in the maturity letter. Approx 2 days interest less! Called up and was promised that they will sort it out and pay the missing £2.55, but I wonder??

Very strange, never come across this before, always had exactly what is initially promised in Maturity info!! Would be interested to hear what happens to others.

Ken68

GillyFlower wrote: »

Well - I need to make my decision

Has anyone else felt the same? Or - found a bargain!

Similar problem here Gilly....Age 81 am shovelling everything into this bond at 2.2%. Closing down BoS accounts and lots of maturities in April....a 5yr ISA with Coventry, a 1 year ISa with Notts and so on. Plus an inheritance that pays out in April....tis a burden where to put it all. LOL

Primrose

parksider wrote: »

I opted for cash at maturity (17th Jan) about a week ago, to my current account. They actually paid into my current account on 15th Jan, but it was £2.55 less than that quoted in the maturity letter. Approx 2 days interest less! Called up and was promised that they will sort it out and pay the missing £2.55, but I wonder??

.

I must confess, I'm at a stage where life sometimes seems too short to fight such battles for such small amounts. I need to save my emotional and physical energy for the issues which really matter !

parksider

Originally Posted by Primrose
I must confess, I'm at a stage where life sometimes seems too short to fight such battles for such small amounts.

Fair comment, but would be interesting to hear what happened re payout sum for those who gave nearer 30 days notice of their wish to cash in.