Next issue NS&I index linked certs

knights

Thanks Jonbvn, a lot clearer now.

I cannot see the answer to my question 2 unless I am missing something. I now understand that the min. is £100 and the max £15000, but can you start with say £1000 and add to it each month for example? (Up to a max of £15000).

If you can then say on month 2 you put in £5000 do you have to wait a full 12 months after that deposit date before you can touch that element without penalty?

Sorry for all the questionns.

regards

Lavendyr

It looks like it's a lump sum investment (i.e. not monthly contributions or whatever) but I could be misinterpreting.

nrsql

You would lose all interest if you cash in during the first year. After that you receive the interest accrued at the end of the previous month anniversary.
The margin above rpi increases each year - see my previous post. The rate usually given is the average.
At the end of the 3 years you can cash in or roll over to another certificate or invest in another product - if you do this it is as though you start a new certificate except that you don't have to wait a year before getting interest.
You don't add to the certificate you take out new ones - max 15k per issue. They are independent so you will be starting another 3 year certificate and need to leave it a year to get any interest.
Any cretificates that you roll over don't count towards the 15k limit.
There are also 5 year certificates and you can put in another 15k per issue to that.
The first time you invest there will be identity checks, a form to sign and will take some time - the start date will be the application date though. After that you will get a holders number and future ivestments can be made on-line. You get a certificate a few days later, again backdated to the application date.

The min is £100 and you could apply monthly - or dialy or whatever period you want as long as you don't go over the 15k per issue.

Have a look at the ns&i site - it's all pretty clear there.

knights

Thanks nrsql,

nrsql wrote: »

You don't add to the certificate you take out new ones - max 15k per issue. They are independent so you will be starting another 3 year certificate and need to leave it a year to get any interest. - The min is £100 and you could apply monthly - or dialy or whatever period you want as long as you don't go over the 15k per issue.

All clear thank you.

Jonbvn

Just to be clear, each time you buy more certs, then you must hold them for a minimum of 1 year from the date of that transaction. There is no reason why you can't invest monthly, within the £15k limit.

knights

Jonbvn wrote: »

Just to be clear, each time you buy more certs, then you must hold them for a minimum of 1 year from the date of that transaction. There is no reason why you can't invest monthly, within the £15k limit.

That's understood thank you

regards