RCI maturity options

kidwell25

I have 2 fixed-rate bonds that will mature in the coming weeks. The first is a NS&I guaranteed income bond (approx £12k) that matures next week. I also have a 2 year RCI bond (approx £10k) that will mature at the end of November. One of these I will reinvest into another fix, but the other I will put into easy access or a notice account for now, and will go towards next year's ISA allowance in April.

NS&I is offering 5.15% to fix for another year. So I have to decide whether to go for that or hope that RCI offers something better in a couple of months. I had another RCI account mature last November and at that time they were offering really good rates to re-fix (quite a lot higher than for new customers) which I took advantage of. Has anyone received any maturity offers from RCI in the last few weeks and what rates are they currently offering to re-fix?

soulsaver

Same boat. The NS&I roll over looks the choice for me... I don't see me needing the money in the short term unless I find a house for sale that I cant resist..

And I'm already in more equities risk than I should be at my age.

Heard nowt on the RCI yet and I was thinking not to commit a plan waiting their maturity offer - however it did occur to me that a 4.85% (is it?) is unlikely get a higher maturity offer in the current climate?

It'll be heading for anything I can get near or above 5.00%, so I'm grabbing all the reg savers I can..

Patr100

My RCI  2 year fixed is maturing in 14 days. Rather annoyingly , at that point , they aren't offering a direct transfer out to my nominated account

but various not that competitive fixed options or their easy access account if I do nothing. From there I would then have to move it out  which would delay moving on to a better offer elsewhere.

intalex

https://forums.moneysavingexpert.com/discussion/comment/81077955#Comment_81077955

What is the point of specifying a nominated account if you can't even have your principal funds sent out to it easily on maturity? I get that they want to try to get you to keep the funds with them, but isn't this practice a bit unfair?

vic_sf49

@intalex you now get maturity options, to transfer all/some of it, to your nominated account.

You might not have done in 2024, which is when the original post is from. Oops on the resurrection of an old thread.

intalex

https://forums.moneysavingexpert.com/discussion/comment/82134509#Comment_82134509

Thanks, do funds appear in nominated account on the maturity date?

vic_sf49

I don't actually know yet. I'll try to remember to post on here, when funds mature in 10 days.

vic_sf49

This might depend on what your maturity instructions are.

My funds are going to my nominated account, but I've just realised they mature on a Saturday, so I'm not expecting them until Monday.

I don't know if you have maturity instructions set to another RCI account, if money is moved on a Saturday.

But I will post back, when the funds are actually transferred.

intalex

Do you remember precisely how many days before maturity the options appeared online to be able to choose from? Was it 14 days prior to maturity date?

slinger2

I had a fixed rate savings account with them that matured on 1 August, a Saturday. I got an email about it on 18 July, 14 days before. The money was in my bank account on Monday 3 August.

intalex

https://forums.moneysavingexpert.com/discussion/comment/82138705#Comment_82138705

Do you remember if it had landed in your nominated current account before noon?