Should I cash NS&I ?

mebu60

ColdIron said:

mebu60 said:

What value is the bond? 

OP says £23,491.37

Only now that the original post has been edited to include the amount!! 

missile

Seems there is little to gain and I might just hang on to them for now.

ColdIron

I will keep them, they are unique and tax free (not too many options for that) but likely reduce my term to 3 years in 2026. Who knows where rates will be then

SonOfPearl

ColdIron said:

I will keep them, they are unique and tax free (not too many options for that) but likely reduce my term to 3 years in 2026. Who knows where rates will be then

BIB My understanding is that only NS&I Premium Bonds and ISAs are tax free. Happy to be corrected if I am wrong.

https://www.nsandi.com/tax-free-saving

IanManc

SonOfPearl said:

ColdIron said:

I will keep them, they are unique and tax free (not too many options for that) but likely reduce my term to 3 years in 2026. Who knows where rates will be then

BIB My understanding is that only NS&I Premium Bonds and ISAs are tax free. Happy to be corrected if I am wrong.

https://www.nsandi.com/tax-free-saving

You are wrong. Index Linked and Fixed National Savings Certificates have always been tax free.

The link you posted is to a page listing NS&I tax free savings options which are currently available. Savings Certificates haven't been on sale to the public since 2011, but existing holders can renew them when they mature.

SonOfPearl

IanManc said:

SonOfPearl said:

ColdIron said:

I will keep them, they are unique and tax free (not too many options for that) but likely reduce my term to 3 years in 2026. Who knows where rates will be then

BIB My understanding is that only NS&I Premium Bonds and ISAs are tax free. Happy to be corrected if I am wrong.

https://www.nsandi.com/tax-free-saving

You are wrong. Index Linked and Fixed National Savings Certificates have always been tax free.

The link you posted is to a page listing NS&I tax free savings options which are currently available. Savings Certificates haven't been on sale to the public since 2011, but existing holders can renew them when they mature.

Thank you. The somewhat vague title of this thread certainly confused me. I had no idea that the OP was talking about savings certificates. Quite a blast from the past. 

ColdIron

SonOfPearl said:

ColdIron said:

I will keep them, they are unique and tax free (not too many options for that) but likely reduce my term to 3 years in 2026. Who knows where rates will be then

BIB My understanding is that only NS&I Premium Bonds and ISAs are tax free. Happy to be corrected if I am wrong.

https://www.nsandi.com/tax-free-saving

What IanManc said  

It's one of the few accounts that are tax free, hence the '(not too many options for that)' comment and a strong reason to keep them if you do pay tax on your savings. I got onto them late so only put £15,000 into one (currently £23,884) and while I don't need the money it will probably be one of the last accounts I cash in

As I say, they are unique and as you say, the title is vague