NS&I Guaranteed Income Bonds

Heytheremrblue

Anyone know of any similar products that will give me at least an equivalent fixed rate ( over 2 years ) with the interest paid monthly ?

Another question for people who have purchased these bonds.

When you open the account how do you make the purchase ?

Apparently my bank has a 24 hour £20k limit.

Do you have to make an immediate purchase when setting up or can you go to a local branch and do a Chaps transfer after a few days ?

ColdIron

Usually you would use your debit card at account opening, there is no funding window. You can send them a cheque or transfer from an NS&I Direct Saver. VISA or Mastercard may have a higher limit than your bank for payments. You could accumulate the cash in a Direct Saver and buy in one go or open multiple bonds over a few days

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

xylophone

https://moneyfactscompare.co.uk/savings-accounts/monthly-interest-fixed-rate-bonds/

friolento

You can buy several of these bonds, or you can transfer funds over several days from your bank account to an NS&I Direct Saver, and then move the funds from the Direct Saver to the Income Bond in one go. That is, if the Income Bond is still available.

You could also make a CHAPS transfer but banks do usually charge for  CHAPS.

friolento

Other 2-year bonds with monthly interest option: https://moneyfactscompare.co.uk/savings-accounts/2-year-fixed-rate-bonds/?quick-links-first=false&product-favorites-first=false&id=null&business-type=16&activity-type=null&investment-amount=25000&investment-type=1&account-types=1&interest-paid-frequencies=2&terms=8&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&is-shariaa=2&joint-account-only=2&exclude-platform-accounts=2

wmb194

Heytheremrblue said:

Anyone know of any similar products that will give me at least an equivalent fixed rate ( over 2 years ) with the interest paid monthly ?

Another question for people who have purchased these bonds.

When you open the account how do you make the purchase ?

Apparently my bank has a 24 hour £20k limit.

Do you have to make an immediate purchase when setting up or can you go to a local branch and do a Chaps transfer after a few days ?

Do you bank with Barclays? You can set-up Chaps payments online/in the app and they're free. There's a fee to cancel them, though.

Heytheremrblue

wmb194 said:

Heytheremrblue said:

Anyone know of any similar products that will give me at least an equivalent fixed rate ( over 2 years ) with the interest paid monthly ?

Another question for people who have purchased these bonds.

When you open the account how do you make the purchase ?

Apparently my bank has a 24 hour £20k limit.

Do you have to make an immediate purchase when setting up or can you go to a local branch and do a Chaps transfer after a few days ?

Do you bank with Barclays? You can set-up Chaps payments online/in the app and they're free. There's a fee to cancel them, though.

Not yet but probably soon I was looking at their fixed rate ISA's !

Heytheremrblue

Well that was a bit weird ! Sent a cheque to NS&I yesterday Special Delivery next day before 1pm and it was delivered and signed for at 4:20 am !