NS&I 6.2% 'Timing'

chrisrsmith

I am wishing to open the 6.2% 1 year bond before the rate is reduced

However I won't have the cash to invest (house sale) until Friday the 29th. Can I 'open the account now and add the monies next Friday OR do I have to have the monies readily available as part of the application process?

From what I have read it seems to me that I can't 'add' to the account as it's a Bond 'on the day' but just putting the feelers out there to see what others understand - all about the timing!

Swipe

No, it can only be funded on open.

ColdIron

You must deposit the funds when you open the account as part of the application process, there is no funding window

You cannot add to it but you can buy multiple bonds

lr1277

Before you make anymoe plans suggest you look at my post on this thread:

https://forums.moneysavingexpert.com/discussion/6474549/impossible-to-purchase-ns-i-6-bonds#latest 

This bond is limited as in some sales of products are whilst stocks last.

So you can buy a bond now and then hope bonds are still available when you have your money.

If you make that decision and want to buy more than £25k of bonds I suggest the following.

Whether you buy some bonds now is upto you.

Open an NS&I direct saver with spare cash. This can apparently take 5-7 days to open. But may not if you choose to buy bonds now. Don't know to be honest.

When your money comes through check if the bonds are still available.

If they are still available, do a bank transfer to the direct saver which is almost instantaneous. Then use that money to buy (more) bonds.