N,S, and I Guaranteed growth bonds.

kennoo

My growth bonds say I cant touch the money until maturity. What if I desperately need the money for an emergency?
Can they actually refuse to give me my money?

Hoenir

Can I take money out?

No, you cannot take money out until the Bond reaches the end of its term

Emmia

kennoo said:

My growth bonds say I cant touch the money until maturity. What if I desperately need the money for an emergency?
Can they actually refuse to give me my money?

You shouldn't have your emergency fund in bonds of this sort, it should be in something easier/instantly accessible - a cash savings account, normal premium bonds etc.

ColdIron

kennoo said:

My growth bonds say I cant touch the money until maturity. What if I desperately need the money for an emergency?
Can they actually refuse to give me my money?

Yes, that's the nature of the contract that you agree to. The benefit to you is that they cannot change the rate. If you might need the money you shouldn't use a fixed term account

Great for you if …

• You want a guaranteed interest rate, for a fixed term
• You have £500 or more to invest
• You are happy to invest online

Not for you if …

• You want access to your money during the term

https://www.nsandi.com/products/guaranteed-growth-bonds

If you have opened them in error you cancel within 30 days of receiving confirmation of your Bond

ranciduk

If you opened the account less than 30 days ago from today- I think you can still cancel them and get your money back now, if you want to change your mind 

wmb194

kennoo said:

My growth bonds say I cant touch the money until maturity. What if I desperately need the money for an emergency?
Can they actually refuse to give me my money?

What do the T&Cs say? Sometimes there are exceptions for e.g., if you become terminally ill but otherwise yes, they can refuse. If you think you might need the money during the term you should look at other accounts.

If you're absolutely desperate for the government guarantee you could look to buy gilts via a stockbroker. You can sell these on the LSE during trading hours although you might not get all your money back as their prices fluctuate up to maturity (at 100p).

https://www.yieldgimp.com/

Beddie

wmb194 said:

kennoo said:

My growth bonds say I cant touch the money until maturity. What if I desperately need the money for an emergency?
Can they actually refuse to give me my money?

What do the T&Cs say? Sometimes there are exceptions for e.g., if you become terminally ill but otherwise yes, they can refuse. If you think you might need the money during the term you should look at other accounts.

If you're absolutely desperate for the government guarantee you could look to buy gilts via a stockbroker. You can sell these on the LSE during trading hours although you might not get all your money back as their prices fluctuate up to maturity (at 100p).

https://www.yieldgimp.com/

Too late!

"My growth bonds..."

wmb194

Beddie said:

wmb194 said:

kennoo said:

My growth bonds say I cant touch the money until maturity. What if I desperately need the money for an emergency?
Can they actually refuse to give me my money?

What do the T&Cs say? Sometimes there are exceptions for e.g., if you become terminally ill but otherwise yes, they can refuse. If you think you might need the money during the term you should look at other accounts.

If you're absolutely desperate for the government guarantee you could look to buy gilts via a stockbroker. You can sell these on the LSE during trading hours although you might not get all your money back as their prices fluctuate up to maturity (at 100p).

https://www.yieldgimp.com/

Too late!

"My growth bonds..."

Ah, yes! Oh well.