NSI Growth Bonds, how many can I open?

cracker_jack

I have around £4,000 to invest in a 3 year savings bond.

NSI has the following 3 year bonds:

Investment Guaranteed Growth Bond 2.20% gross/AER Issue 1 Maximum £3,000 Per Issue, per person

Investment Guaranteed Growth Bond 1.95% gross/AER Issue 57 Maximum £1 million Per Issue, per person

In the brochure it states:

Can I buy more than one Bond?
Yes, as long as each investment you make is at least £100 and
the total amount you invest isn’t more than £3,000.

The first bond has a higher interest rate but I want to invest more than £3,000. Does anyone know if I can I open two of the first one putting in £2,000 in each one?

Audaxer

cracker_jack wrote: »

Investment Guaranteed Growth Bond 1.95% gross/AER Issue 57 Maximum £1 million Per Issue, per person

I have Issue 56 of the 3 year Guaranteed Growth Bond that had a 2.2% interest rate with a £1m investment limit. They seem to have created a new issue no 57 at a lower interest rate of 1.95%, which is a pity as I was thinking of investing a further lump sum at 2.2%.

In answer to your question, the maximum you can now invest at 2.2% is £3,000 in the Investment Guaranteed Growth Bond. You would have to invest the other £1,000 in the Guaranteed Growth Bond at 1.95%. However on £1,000 at 1.95% you would get £19.50 interest per annum rather than the £22 interest per annum at 2.2%, so you are not losing much interest on £1,000.