NS&I Guaranteed Income Bond - When is interest paid out?

Cammie50

Does anyone know if the interest on these bonds is paid out at the end of each calendar month, or on the monthly anniversary of when the bonds were purchased? I purchased 2 bonds on 5th and 6th September. No interest showing yet so should I expect to receive it on 5th and 6th October, and monthly thereafter? Can’t find this fine detail on the NS&I website. Thanks. 

eskbanker

We pay the interest to your nominated account each month on the same date of the month as you bought your Bond, or the next banking day if this date is not a banking day.

https://www.nsandi.com/files/asset/pdf/guaranteed-income-bonds-key-features.pdf

LeafGreen

It's in the customer agreement:- "We pay the interest to your nominated account each month on the same date of the month as you bought your Bond, or the next banking day if this date is not a banking day."

I opened one on 1st Sept and the first interest payment has appeared in my nominated account today, although the transaction in my NS&I online records has a date of 28th Sept.

I expect you'll get yours paid out this Thurs & Fri.

Cammie50

Thanks Eskbanker and Grahamgoo for your quick responses. Much appreciated. 

BooJewels

I have a GIB from a few months back and the pending interest payment shows in your on-line NS&I account a few days before it's actually due (as interest in and a BACS out), but you'll receive the actual payment in your nominated account on the date of your monthiversary.  So I think the interest might just show now in the NS&I account - at least for the one for the 5th and you'll then get it on the 5th.  And one day later for the bond bought on the 6th.

Cammie50

Thanks BooJewels. Very helpful.