Welcome news for current NS&I growth bond holders that are maturing soon

Welcome news for current NS&I growth bond holders maturing soon. According to the article below, there's talk of a 5.4% renewal rate at maturity. I have a 4% one maturing in February.

https://www.thisismoney.co.uk/money/saving/article-12881981/The-hidden-5-4-fixed-bond-thats-available-NS-account.html

Comments

  • auser99
    auser99 Posts: 206
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    How will the 6.2% many took out a few months back look at renewal time is the big question.
  • Swipe
    Swipe Posts: 5,010
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    edited 20 December 2023 at 12:31PM
    auser99 said:
    How will the 6.2% many took out a few months back look at renewal time is the big question.
    I'm not too bothered about that one as mine doesn't mature until October. I was more concerned about getting my 4% one due in Feb at a better rate.
  • Swipe said:
    auser99 said:
    How will the 6.2% many took out a few months back look at renewal time is the big question.
    I'm not too bothered about that one as mine doesn't mature until October. I was more concerned about getting my 4% one due in Feb at a better rate.
    Has anyone got an idea of how long this possible renewal rate would be around for?
    I choose the rooms that I live in with care,
    The windows are small and the walls almost bare,
    There's only one bed and there's only one prayer;
    I listen all night for your step on the stair.
  • Swipe
    Swipe Posts: 5,010
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    Swipe said:
    auser99 said:
    How will the 6.2% many took out a few months back look at renewal time is the big question.
    I'm not too bothered about that one as mine doesn't mature until October. I was more concerned about getting my 4% one due in Feb at a better rate.
    Has anyone got an idea of how long this possible renewal rate would be around for?
    I have no information other than what is in the article
  • refluxer
    refluxer Posts: 2,537
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    edited 20 December 2023 at 3:53PM
    Swipe said:
    auser99 said:
    How will the 6.2% many took out a few months back look at renewal time is the big question.
    I'm not too bothered about that one as mine doesn't mature until October. I was more concerned about getting my 4% one due in Feb at a better rate.
    Has anyone got an idea of how long this possible renewal rate would be around for?
    There is no way of knowing because it depends on how much NS&I need to raise, how quickly people pay in to meet that need and what the competing rates are elsewhere at the time.

    The 6.2% GGBs were launched on 30th August and available for 5 weeks, but the base rate was still heading upwards at that time (it had increased to 5.25% earlier that month) and the outlook wasn't as certain as it is now, with the recent drops in inflation. 

    That said, this new 5.4% rate is only available to maturing bond holders so the uptake is bound to be slower than the 6.2% bonds, which were available to all.
  • Swipe
    Swipe Posts: 5,010
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    Just had my "Time to decide: your NS&I investment is maturing soon" email. I'll confirm the rate when I receive details.

    You have an NS&I fixed term investment that’s due to mature soon, so it’s nearly time to decide what to do next.

    We’ll contact you around 30 days before the maturity date to explain your options. We’ll then need to receive your instructions no later than two working days before your investment matures. If you want to give us your instructions online or by calling us, you’ll need your NS&I number and password to hand.

  • valiant24
    valiant24 Posts: 380
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    Swipe said:
    Just had my "Time to decide: your NS&I investment is maturing soon" email. I'll confirm the rate when I receive details.


    I've had two of these now, the second more urgent as mine matures on 22/02/24.   However despite them saying that there's a letter telling me my options and the rate if I roll over for another year there isn't in fact one, so I can't make a sensible decision on this.  I suppose I'll have to waste a morning trying to get in touch with some of the most obdurate and jobsworth agents in a sector famed for obdurate jobsworths!

    Has anyone else been told what their rollover offer is please?
  • ColdIron
    ColdIron Posts: 8,674
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    Have you logged in and had a look? The options are usually visible so you can select one
  • InvesterJones
    InvesterJones Posts: 634
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    edited 9 February at 12:39PM
    If changing term length they also reserve the right to change the rate right up to the point it rolls over - last I looked they'd dropped considerably to the 3-4% range.
  • valiant24
    valiant24 Posts: 380
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    ColdIron said:
    Have you logged in and had a look? The options are usually visible so you can select one
    I had.  I have no letter under Profile->Your Documents.   However buried deep in one of the menus is the offer, which i was able to locate with the help of a chat agent.   It's 4.7%.

    About the same as TN25 / TR25 gilts then. 

    Thanks for the reply.
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