Guaranteed Income bonds NS&I

refluxer

Nova1307 said:

I have three GGBs maturing from 15-25 September. When I click on the maturity options it states that all three are set to auto-renew and that the 'guaranteed rate' is 5.15% and the 'current rate' is 4.75%. Does that mean if I let them auto-renew for another year I will receive 5.15%?  

Mine said exactly the same and auto-renewed at 5.15% today, without me submitting any maturity instructions. Presumably 'guaranteed rate' is exactly that... guaranteed.

Nova1307

refluxer said:

Nova1307 said:

I have three GGBs maturing from 15-25 September. When I click on the maturity options it states that all three are set to auto-renew and that the 'guaranteed rate' is 5.15% and the 'current rate' is 4.75%. Does that mean if I let them auto-renew for another year I will receive 5.15%?  

Mine said exactly the same and auto-renewed at 5.15% today, without me submitting any maturity instructions. Presumably 'guaranteed rate' is exactly that... guaranteed.

I was in two minds whether to withdraw and re-invest elsewhere but 5.15% seems like a good deal especially after the rate cut. Vanguard is another option but obviously no guarantees there. 

DoneWorking

My income bond matures on 4th October
Will I get the 5.15%  Guaranteed Rate
Or the lower rate 

Also my current bond is set to pay out interest monthly
Will this continue with the new bond 

molerat

DoneWorking said:

My income bond matures on 4th October
Will I get the 5.15%  Guaranteed Rate
Or the lower rate 

Also my current bond is set to pay out interest monthly
Will this continue with the new bond 

Check your on line account, it will show you your renewal options but from other reports on here the change date is 5th Oct - before then 5.15%, from then on 4.75%

The whole idea of the income bond is that it pays a monthly income, it will renew on the same terms, it will not change into growth bond which is a different product.

ColdIron

Have you logged on and looked in your documents for notification? As it's under 30 days I would expect there to be one advising you. You should probably see your maturity options if you select your GIB account

DoneWorking

Yep 
I logged on and looked up maturity options 

Guaranteed Income Bond 1-year

New term start date

04/10/2024

New term maturity date

04/10/2025

Guaranteed rate 

5.03% gross/ 5.15% AER

Current rate 

4.65% gross/ 4.75% AER

So I'm assuming if I leave it as is it will open the new account on the Guaranteed Rate of
5.03% gross/ 5.15% AER

Does anyone know if I can add  further funds to the new Growth Bond 

Or am I stuck with the sum from last year's Income Bond 

Murielson

Sorry for jumping on the thread but relevant really as also NS & I Bond maturity

Opted to let the Bond mature and transfer over to a new bond but can't see where the interest has gone just now. Does the bond value plus interest go into the new bond or does a new bond start and interest then paid into nominated bank account?

ColdIron

Murielson said:

Sorry for jumping on the thread but relevant really as also NS & I Bond maturity

Opted to let the Bond mature and transfer over to a new bond but can't see where the interest has gone just now. Does the bond value plus interest go into the new bond or does a new bond start and interest then paid into nominated bank account?

That depends upon what maturity instructions you gave

If you left it at the default option then all the cash, including interest, will be moved into the new bond. If you wanted to withdraw the interest you would have used the Combine Your Options option and specified how much to reinvest and how much to withdraw

DoneWorking

Is there any way to add to the mature bond so that the new bond includes
Original sum invested
Interest if appropriate 
Plus additional investment sum 

ColdIron

DoneWorking said:

Is there any way to add to the mature bond so that the new bond includes
Original sum invested
Interest if appropriate 
Plus additional investment sum 

Not to the maturing 1 year GIBs. You can reinvest the original sum with or without interest into a new 1 year bond but you can't add to it

However one of the options for maturing bonds is to opt for a different term - 2, 3 and 5 years. You can open new bonds with additional money at the same rate available for maturing ones as they are on general sale now

https://www.nsandi.com/guaranteed-returns