NS&I 3yr GG bond maturity options! Thanks but no thanks!

SallySunshine

My 3 yr G.G. bond is maturing at the end of this month. received message to see my options.
Another 3 yrs at 0.40% or 1yr at 0.10%.
Since you could only deposit 3k at 2.2% it wasn't too bad a little investment.
Think I'll pass on this offer.
Just be aware if anyone has these, they will renew automatically on the maturity date

cricidmuslibale

The very same appallingly low interest rates that meant that for the very 1st time I felt compelled to cash in each and every one of several low amount G.G. bonds with NS&I that matured during the last 3 months. Previously I had always kept faith with NS&I and renewed all my fixed term savings accounts with them whenever they came to mature, even when the interest rate being offered for the renewed savings account may have been quite a bit lower than the top interest rates being offered on similar savings accounts by the banks, building societies etc.!

ColdIron

SallySunshine said:

Just be aware if anyone has these, they will renew automatically on the maturity date

But you now get a cooling off period

• Your right to cancel
• If your Bond automatically renews or you renew it for a different term, you'll be able to cancel it within 30 days of receiving confirmation of your new Bond. We'll then refund the full value of your new Bond with any interest due

SallySunshine

True, but after seeing the pitiful rate, that was furthest from my mind and closed them out immediately.
Don’t hold out much hope for the reportedly new Green Bonds which are due to launch in the summer.

cattie

I didn't cancel my bond renewal in time, so did it the day after it renewed for another 3yrs & my money was refunded into my bank account the very next day. I was very impressed, especially as there's been so much negativity regarding NS&I of late.