NS&I 1 Year Guaranteed Growth Bonds and Guaranteed Income Bonds at 6.20%

gt94sss2

worriednoob said:

Afternoon,  just a quick update - Contacted NS&I and although they've corrected my name, they are denying that any emails that I should have received are missing and also deny any data breach.  But I've definitely not received an email showing my debit card payment/transaction.  Not sure what else to do. The email showing the debit card transaction would be the only real written proof that I've made a large deposit.

Not receiving the email showing the payment transaction is not a data breach imho. It doesn't contain any useful data (or anything which would identify you) to anyone else.

Your bank will also have details of the debit card transaction on your statement/internet banking and the bond will also appear online on NS&I

allegro120

Swipe said:

JGal said:

So I have to leave my funds in my current account for up to 10 days earning diddly squat until NS&I open the account. Mmh

The bond is opened immediately and begins earning interest even when using a debit card.

Thanks for confirming. I knew that's the case with NS&I Direct Saver, but wasn't sure about this particular product. 

Rollinghome

Email isn't considered secure, so nothing sensitive should/would ever be sent without end-to-end encryption. If NS&I has taken money from your bank account, then that's your proof.

alicef

I set mine up this morning via debit card method; I already have PBs with NS&I.  I had a chat with FD just before I completed the NS&I set up to let them know I would be doing the transfer and to put a note on my account.

The money was showing in the NS&I shortly after.  

On the basis of today ... pretty straightforward.

NedS

Just opened one of these - I'm a first timer with NS&I and the online process was really easy. I've moved my savings pot from Barclays Rainy Day Saver at 5% to the growth bond at 6.2% so happy with that.

Can I ask what happens upon maturity - does the bond automatically pay out into my nominated/linked bank account, or does the interest get added at it sit there in my NS&I account until I withdraw it?

Doctor_Who

NedS said:

Just opened one of these - I'm a first timer with NS&I and the online process was really easy. I've moved my savings pot from Barclays Rainy Day Saver at 5% to the growth bond at 6.2% so happy with that.

Can I ask what happens upon maturity - does the bond automatically pay out into my nominated/linked bank account, or does the interest get added at it sit there in my NS&I account until I withdraw it?

I opened and funded one yesterday evening (I have an NS&I account) - one of the easiest applications/fundings I've done! NS&I say they will write to you a month before maturity with the options:

https://www.nsandi.com/help/manage-your-savings/maturing-investments/guaranteed-growth-bonds

southone

Doctor_Who said:

NedS said:

Just opened one of these - I'm a first timer with NS&I and the online process was really easy. I've moved my savings pot from Barclays Rainy Day Saver at 5% to the growth bond at 6.2% so happy with that.

Can I ask what happens upon maturity - does the bond automatically pay out into my nominated/linked bank account, or does the interest get added at it sit there in my NS&I account until I withdraw it?

I opened and funded one yesterday evening (I have an NS&I account) - one of the easiest applications/fundings I've done! NS&I say they will write to you a month before maturity with the options:

https://www.nsandi.com/help/manage-your-savings/maturing-investments/guaranteed-growth-bonds

Was there a option to fund it from Income Bonds account did you notice?

Swipe

southone said:

Doctor_Who said:

NedS said:

Just opened one of these - I'm a first timer with NS&I and the online process was really easy. I've moved my savings pot from Barclays Rainy Day Saver at 5% to the growth bond at 6.2% so happy with that.

Can I ask what happens upon maturity - does the bond automatically pay out into my nominated/linked bank account, or does the interest get added at it sit there in my NS&I account until I withdraw it?

I opened and funded one yesterday evening (I have an NS&I account) - one of the easiest applications/fundings I've done! NS&I say they will write to you a month before maturity with the options:

https://www.nsandi.com/help/manage-your-savings/maturing-investments/guaranteed-growth-bonds

Was there a option to fund it from Income Bonds account did you notice?

The options are: debit card or other NS&I account. Just run through the application process and see what it offers you. You can always cancel half way if it doesn't give you the payment options you require.

southone

Swipe said:

southone said:

Doctor_Who said:

NedS said:

Just opened one of these - I'm a first timer with NS&I and the online process was really easy. I've moved my savings pot from Barclays Rainy Day Saver at 5% to the growth bond at 6.2% so happy with that.

Can I ask what happens upon maturity - does the bond automatically pay out into my nominated/linked bank account, or does the interest get added at it sit there in my NS&I account until I withdraw it?

I opened and funded one yesterday evening (I have an NS&I account) - one of the easiest applications/fundings I've done! NS&I say they will write to you a month before maturity with the options:

https://www.nsandi.com/help/manage-your-savings/maturing-investments/guaranteed-growth-bonds

Was there a option to fund it from Income Bonds account did you notice?

The options are: debit card or other NS&I account. Just run through the application process and see what it offers you. You can always cancel half way if it doesn't give you the payment options you require.

Seems not without a fuss just found this in FAQ

"If you have an NS&I Direct Saver, you can apply online for a Guaranteed Growth Bond and pay for it from your Direct Saver.

If you want to use another NS&I account to pay for your Guaranteed Growth Bond, you’ll need to download and print a switching form, fill it in then post it to us."

allegro120

NedS said:

Just opened one of these - I'm a first timer with NS&I and the online process was really easy. I've moved my savings pot from Barclays Rainy Day Saver at 5% to the growth bond at 6.2% so happy with that.

Can I ask what happens upon maturity - does the bond automatically pay out into my nominated/linked bank account, or does the interest get added at it sit there in my NS&I account until I withdraw it?

If you have chosen your matured funds to arrive to your nominated account, you should receive your capital+interest in your nominated account on the next working day after maturity date.  Because I already had NS&I direct saver I had two options, money transferred to Direct Saver or paid into nominated account.