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NS&I Income Bond Final closure interest amount too low?

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I was about to withdraw and close my NS&I 1.16% Income Bond until I got to the final confirmation screen where it tells you how much interest you will be getting where I got a figure that appears to be way lesser than I had expected. I opened the account in July but have had at least 27K since the 1st of August so I was expecting interest between £100 and £150( over nearly 4 months). To my surprise the final interest is only going to be about 15 quid! What the heck is going on here? Can anyone tell me if this sounds right?

Comments

  • RG2015
    RG2015 Posts: 6,048 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Monthly interest would have been paid on the 5th every month. Your £15 is just from 5th Nov to date. Check your nominated account from July or August.
  • thor
    thor Posts: 5,504 Forumite
    Part of the Furniture 1,000 Posts
    Yes you are completely correct. It had totally slipped my mind that I was getting a monthly interest payment. I've just checked and have seen that the correct amount of interest has been added for each month. I'm relieved that I don't have to go through all that waiting trying to call them about this and now can get out of there. Thanks again.
  • msallen
    msallen Posts: 1,494 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    thor said:
    I'm relieved that I don't have to go through all that waiting trying to call them about this
    And other people who do have to call them will be relieved that the backlog of un-necessary calls ahead of them in the queue is one shorter than it would otherwise have been. 
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