NSI Index-linked Savings Certificates

GeoffTF

It depends on your circumstances. There is no one size fits all answer for everyone. I can get a better deal with index linked gilts, but the rules could change. My index linked savings certificates account for less than 1% of my portfolio, so it does not matter much anyway. Nonetheless, I want to simplify as I get older. I am not renewing my savings certificates as they mature. Every line that disappears from my spreadsheet is good.

Aminatidi

I agree it depends on circumstances. I have about £25K in index linked certs that expire in August and I don't think I'll be renewing them.

Right now I think of them as part of my emergency fund because with a slight penalty I can realise that £25K pretty quickly if I ever need it.

I can't do that if they are locked away for 3-5 years.

Others may of course take a different view which is appropriate for their circumstances .

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81957208#Comment_81957208

As mentioned already I would suspect that renewing on a joint basis would not be possible, and maybe disadvantageous even if you could.

MiserlyMartin

I have kept the old NS& I index linked certs for ages now, I'm at the stage where I might need the money, but now access is denied until end of term. I've been giving it some thought what to do. If it was before the Iran war I would have said cash them in because you can get better in ISAs or 4.3% instant access taxable accounts. But now once again the Bank of England seem to be looking through the oil shock and inflationary risk just like they did with the covid inflationary times, which was the last time these bonds were worth having and made good returns above what you could get in savings accounts. We have had inflation well above the 2% target before the oil shock, and apart from a vocal threat to maybe raise, they aren't going to do anything about it in all probability or certainly they won't be raising enough. CPI will rocket, so I will renew for 3 years. These bonds are like insurance against stagflation and a BOE which fails to hit its inflation target most of the time.

Slinky

Ours rolled over as we were busy and then on holiday. Am I right in thinking we have 30 days to change our minds?

DRS1

https://forums.moneysavingexpert.com/discussion/comment/82021852#Comment_82021852

30 days "from receiving confirmation of the new certificate" - whenever that was.

10_66

https://forums.moneysavingexpert.com/discussion/comment/82021852#Comment_82021852

You have 30 days from the renewal date. I let mine roll over as I was undecided what I wanted to do, but only on the understanding that I could cancel within 30 days, using the cooling off period, I rang to check on this mid May. I've now cancelled the ILSC, two weeks after it rolled over.