NS&I Guaranteed Growth Bond Renewal

naedanger

ColdIron said:

Apart from rolling over your existing term at a guaranteed rate, all the other options are variable (i.e. you probably won't get them as the rates look set to change)

Your guaranteed 0.10% on a 1 year term is a useful insight to those of us on different terms into the rates that will be on offer next month

Edit: Any 2 or 5 year term holders care to share the guaranteed rates you have been offered?

Not sure if you question has been answered already but my offer as at 24/11/2020 (my reinvestment being after that date):
1 year term: 0.10% gross/AER
2 year term: 0.15% gross/AER
3 year term: 0.40% gross/AER
5 year term: 0.55% gross/AER

ashteadgirl

Found this on rather hidden page within NS&I site

Product	Current interest rate	Interest rate from 24 November 2020 (change in brackets)
Guaranteed Growth Bonds (1-year)	1.10% gross/AER	0.10% gross/AER (-100 basis points)
Guaranteed Growth Bonds (2-year)	1.20% gross/AER	0.15% gross/AER (-105 basis points)
Guaranteed Growth Bonds (3-year)	1.30% gross/AER	0.40% gross/AER (-90 basis points)
Guaranteed Growth Bonds (5-year)	1.65% gross/AER	0.55% gross/AER (-110 basis points)

ashteadgirl

On my renewal 7/12 letter they quote 3Yr renewal of 0.4% as that is the original term length and rate guaranteed even if changes occur . The other term rates options are quoted as the current rates but with the rider that i will get the rate currently applicable at date of renewal. In other words the one listed above if no changes happen. Just wonder how many folks will change length of bond thinking they will get old rate listed in the letter.

notbritishgas

Not received my offer yet but is it possible to transfer directly into premium bonds or must we move into linked  bank account and then open a premium bond account and move the money back.

RG2015

notbritishgas said:

Not received my offer yet but is it possible to transfer directly into premium bonds or must we move into linked  bank account and then open a premium bond account and move the money back.

I do not have this option on mine.

If you have an NS&I Direct saver you can use this as your nominated account instead of your linked bank account. I imagine it would be easier to transfer the funds into Premium Bonds from here than from your linked bank account.

colsten

RG2015 said:

notbritishgas said:

Not received my offer yet but is it possible to transfer directly into premium bonds or must we move into linked  bank account and then open a premium bond account and move the money back.

I do not have this option on mine.

If you have an NS&I Direct saver you can use this as your nominated account instead of your linked bank account. I imagine it would be easier to transfer the funds into Premium Bonds from here than from your linked bank account.

If you cannot transfer from IBs to PBs directly (which seems rather odd), you will be able to transfer from IBs to the DS, and from the DS to PBs. Still all well within 5 minutes.

RG2015

colsten said:

RG2015 said:

notbritishgas said:

Not received my offer yet but is it possible to transfer directly into premium bonds or must we move into linked  bank account and then open a premium bond account and move the money back.

I do not have this option on mine.

If you have an NS&I Direct saver you can use this as your nominated account instead of your linked bank account. I imagine it would be easier to transfer the funds into Premium Bonds from here than from your linked bank account.

If you cannot transfer from IBs to PBs directly (which seems rather odd), you will be able to transfer from IBs to the DS, and from the DS to PBs. Still all well within 5 minutes.

You can transfer from IBs to PBs directly.

This post is about maturing Guaranteed Growth Bonds.

colsten

Ooops. Sorry. I was in the wrong thread!

Stubod

...just checked ours as they auto renewed yesterday and they are quoting 1.3% for the new term..

sausage_time

Today when I look, my 3 year 2.2% GGB bond maturing in December now defaults to 3 years at 0.4%.  Alternatively....

• 1-year 0.10% gross/AER
• 2-year 0.15% gross/AER
• 5-year 0.55% gross/AER

Not unexpected, but a bit of a kick up the jacksie.