NS&I Guaranteed Growth Bonds now released - 2.8% and 4% p.a. Over 65s only.
329°Expired

NS&I Guaranteed Growth Bonds now released - 2.8% and 4% p.a. Over 65s only.

74
Found 15th Jan 2015
NS&I have now released these limited issue bonds for over-65s. Fantastic deal if you qualify - 2.8% p.a. on the 1-year bond, and 4% p.a. on the 3-year bond. The interest is taxable. The website seems to be very busy (unsurprisingly), but you can also apply by phone on 0500 500 000.

74 Comments

Any codes to get you over 65?

those baby boomers just keep on giving dont they?

backinstock

Any codes to get you over 65?


Don't worry. You'll be 65 before you get through to NS&I.

qbs

Don't worry. You'll be 65 before you get through to NS&I.


If I reach 65, I'll be over the moon. lol

ageist, not bloody right !!!!

Forget over 65's - you're pretty much screwed if under 45. Don't expect the retirement lifestyle your folks have had.

There's a rush to lockup £10000 for three years to get 4%. I know you wont get this rate elsewhere but what a state we're in. Why can't we invest in bankers. They seem to make lots of money ;-(

Success!

They've also released one at 15%, only available to the over 95s though.

And you get a free pen.

LoRdPlOps111

They've also released one at 15%, only available to the over 95s … They've also released one at 15%, only available to the over 95s though.And you get a free pen.


10 year rate too.

Got them in the end. Tenacity wins.

Patience is a virtue apparently......trying to get one for my dad as he's not internet savvy, however, I could be 65 myself by the time I get through

Cheers OP! I've been keeping an eye out for these for my retired parents.
Good luck getting through on the freephone number - it's been ringing engaged for the last hour. The website crashes all the time too so I wouldn't rely on that.
I found this landline number 01253 840007, and got through first time so try this!

woldranger

Cheers OP! I've been keeping an eye out for these for my retired … Cheers OP! I've been keeping an eye out for these for my retired parents.Good luck getting through on the freephone number - it's been ringing engaged for the last hour. The website crashes all the time too so I wouldn't rely on that.I found this landline number 01253 840007, and got through first time so try this!



When you applied over the phone did you have to give them the details to transfer the amount to open the bond or is the bond opened and you can deposit within so many days? TIA

Lookeylook

When you applied over the phone did you have to give them the details to … When you applied over the phone did you have to give them the details to transfer the amount to open the bond or is the bond opened and you can deposit within so many days? TIA



I haven't applied, I made the call on behalf of my parents, so they've dealt with it, all I've done is got them through.


I can't understand why NS&I is taxable ? Many of Their previous products are tax free ....

Great rates; but not the best out there. Voted hot though.

Some current accounts pay upto 5% interest and you've got instant access. You can also have more than one account with some providers.

Here's a quick rundown:

1. TSB Classic Plus x 1 = £2000 @ 5%
2. Nationwide FlexDirect x 1 = £2500 @ 5%
3. Club Lloyds x 1 = £5000 @ 4%
4. Santander 123 x 1 = £20000 @ 3%
5. Tesco Current Account x 2 = £6000 @ 3%
6. Bank of Scotland Vantage x 3 = £15000 @ 3%.

The above does not include the extra allowed for joint accounts.

There are funding/Direct Debit requirements on these accounts so read the T&Cs before applying.

Don't forget other accounts either that pay up to 6% interest:

1. Halifax Reward - £5 per month for nowt
2. M&S Bank regular saver - 6% (max. £250/month)
3. First Direct regular saver - 6% (max. £300/month)
4. HSBC regular saver - 4% or 6% (max. £250/month)
5. Club Lloyds Monthly regular saver - 4% (max £400/month)

pantaiema

I can't understand why NS&I is taxable ? Many of Their previous products … I can't understand why NS&I is taxable ? Many of Their previous products are tax free ....




Because Osbourne he giveth with one hand, and taketh with the other.

HOOORAY, i am too young for something

curtlyb

ageist, not bloody right !!!!




State Pension; " The most you can currently get is £113.10 per week. "..

One of the lowest state pensions in Europe.

Great, another blanket old codger subsidy by the state.

real test of the credibility of this site - currently making the news headlines yet not in today's Top 10 deals...

wildecat

Great, another blanket old codger subsidy by the state.




Hardly a " subsidy ", oh and doesn't the state subsidise youngsters?

Free School Meals etc.

Child Benefits ?

dillydilly

real test of the credibility of this site - currently making the news … real test of the credibility of this site - currently making the news headlines yet not in today's Top 10 deals...




True, that is filled with game offers.:(

It's a subsidy as it's not available to the rest of the taxpayers for no other reason than age.

Much like the essential 'Winter fuel payment' that goes towards a family friend's golf fees...

Inactive

Hardly a " subsidy ", oh and doesn't the state subsidise youngsters?Free … Hardly a " subsidy ", oh and doesn't the state subsidise youngsters?Free School Meals etc.Child Benefits ?


karlie88

Great rates; but not the best out there. Voted hot though.Some current … Great rates; but not the best out there. Voted hot though.Some current accounts pay upto 5% interest and you've got instant access. You can also have more than one account with some providers.Here's a quick rundown:1. TSB Classic Plus x 1 = £2000 @ 5%2. Nationwide FlexDirect x 1 = £2500 @ 5%3. Club Lloyds x 1 = £5000 @ 4%4. Santander 123 x 1 = £20000 @ 3%5. Tesco Current Account x 2 = £6000 @ 3%6. Bank of Scotland Vantage x 3 = £15000 @ 3%.The above does not include the extra allowed for joint accounts.There are funding/Direct Debit requirements on these accounts so read the T&Cs before applying.Don't forget other accounts either that pay up to 6% interest:1. Halifax Reward - £5 per month for nowt2. M&S Bank regular saver - 6% (max. £250/month)3. First Direct regular saver - 6% (max. £300/month)4. HSBC regular saver - 4% or 6% (max. £250/month)5. Club Lloyds Monthly regular saver - 4% (max £400/month)



A lot of restrictions on the first lot. (I have a couple of the TSB ones and a 123 account - the extra cashback and higher limit on the 123 account actually makes it a lot better than the TSB ones for me)

The M&S one looked interesting initially. But it's a red herring. Yes, you get 6%, but only on each monthly amount and it accumulates over the year. So if you pay £3000 in over the year, you don't get 6% of £3000 (minus) tax. You'd actually only get £78 back after tax. After 12 months the balance has to go into a much lower rate account.

Been looking for a decent savings account for ages now. Having it spread over multiple current accounts is a pain. But nothing decent is coming up (not old enough for this) so looks like another lump sum into the mortgage .....

woldranger

Cheers OP! I've been keeping an eye out for these for my retired … Cheers OP! I've been keeping an eye out for these for my retired parents.Good luck getting through on the freephone number - it's been ringing engaged for the last hour. The website crashes all the time too so I wouldn't rely on that.I found this landline number 01253 840007, and got through first time so try this!


Thanks..Been trying to get online but eventually gave up as the site was crashing I used your 01253 840007 and got through right away. I asked when my money would be taken out of my account and was advised it would go out today. I paid by debit card.
John

dillydilly

real test of the credibility of this site - currently making the news … real test of the credibility of this site - currently making the news headlines yet not in today's Top 10 deals...



I hardly come to HUKD for a reflection of 'newsworthy' items.

If that were true I would be wondering why the Sun wasn't always showing their allegiance for Nilfisk Pressure Washers vs The Daily Mail's preference for Karcher.

wildecat

It's a subsidy as it's not available to the rest of the taxpayers for no … It's a subsidy as it's not available to the rest of the taxpayers for no other reason than age.Much like the essential 'Winter fuel payment' that goes towards a family friend's golf fees...



Oh that's a bit like Child Tax Credit that pays for the school run Range Rovers then ?

sancheez

A lot of restrictions on the first lot. (I have a couple of the TSB ones … A lot of restrictions on the first lot. (I have a couple of the TSB ones and a 123 account - the extra cashback and higher limit on the 123 account actually makes it a lot better than the TSB ones for me)The M&S one looked interesting initially. But it's a red herring. Yes, you get 6%, but only on each monthly amount and it accumulates over the year. So if you pay £3000 in over the year, you don't get 6% of £3000 (minus) tax. You'd actually only get £78 back after tax. After 12 months the balance has to go into a much lower rate account.Been looking for a decent savings account for ages now. Having it spread over multiple current accounts is a pain. But nothing decent is coming up (not old enough for this) so looks like another lump sum into the mortgage .....



By restrictions do you mean funding requirements? If so, then it takes a couple of minutes to set up monthly standing orders between account A and B; then it's done automatically every month. If you have more than 2 accounts then you can create more than one SO between several accounts: A-->B-->C-->D-->A.

The M&S regular saver is not a red herring. Bottom line is that it's a 6% regular savings account. The money that you put into it will earn 6% interest. Fact. As soon as that account matures, you can open another one; so no low rate of interest.

I know what you mean with the M&S one. And yes, it does. But the money paid in in month 12 earns a lot less than that paid in month 1. If I can't beat 2.5% net return over a year (which is £75 on £3000. So their 6% account is only actually £3 better than the 2.5% I pay on my mortgage - hence why I wouldn't bother. Not worth the hassle for £3 a year.), then it's better off going towards the mortgage. And I have a low rate on my mortgage. The vast majority of people are better off clearing mortgage than paying into most of the savings accounts on offer just now. It also has conditions such as having to have a current account with them. Once it matures, it doesn't continue to attract 6%, it drops into a sub-1% standard savings account. Then you have to start again as you say.

And yeah, I do mean funding requirements. I already to inter-account transfers to keep my TSB accounts ticking over. But the others require a salary (will a SO from A.N.Other current account suffice? I assumed it wouldn't?) and quite often a minimum number of direct debits. I have very few direct debits which limits me if that's a requirement.

LoRdPlOps111

They've also released one at 15%, only available to the over 95s … They've also released one at 15%, only available to the over 95s though.And you get a free pen.



BRILLIANT!

karlie88

By restrictions do you mean funding requirements? If so, then it takes a … By restrictions do you mean funding requirements? If so, then it takes a couple of minutes to set up monthly standing orders between account A and B; then it's done automatically every month. If you have more than 2 accounts then you can create more than one SO between several accounts: A-->B-->C-->D-->A.The M&S regular saver is not a red herring. Bottom line is that it's a 6% regular savings account. The money that you put into it will earn 6% interest. Fact. As soon as that account matures, you can open another one; so no low rate of interest.




Any regular saver account that is restricted to x amount per month is a red herring, by restricting the amount you put in, you only ever get the full interest amount on the first payment. The next 11 months are on a diminishing interest basis.

Dividend paying stocks will outperform the 3 year bond.

What happens if I die before the 3 years are over, can I still access my money? oO

djh1975

Dividend paying stocks may outperform the 3 year bond.



I have corrected that for you.(_;)

djh1975

Dividend paying stocks will outperform the 3 year bond.



Yes because they carry much higher risk.

Inactive

Any regular saver account that is restricted to x amount per month is a … Any regular saver account that is restricted to x amount per month is a red herring, by restricting the amount you put in, you only ever get the full interest amount on the first payment. The next 11 months are on a diminishing interest basis.



Yep.

Wouldn't be so bad if it was cumulative over multiple years (like an ISA), but it's not. So in the end they're often not that great for longer term saving. Even the money sites don't really like them.

A great deal if you are over 65 and have money to invest. For me (under 65) paying off my mortgage early is the best bet as savings interest rates are so low. My actual best rate is 3% interest with Ovo Energy on my gas /electricity credit as I have built up a surplus of a few hundred quid. Mind you if I gave them a few thousand I am sure they would refuse.

sancheez

I know what you mean with the M&S one. And yes, it does. But the money … I know what you mean with the M&S one. And yes, it does. But the money paid in in month 12 earns a lot less than that paid in month 1. If I can't beat 2.5% net return over a year (which is £75 on £3000. So their 6% account is only actually £3 better than the 2.5% I pay on my mortgage - hence why I wouldn't bother. Not worth the hassle for £3 a year.), then it's better off going towards the mortgage. And I have a low rate on my mortgage. The vast majority of people are better off clearing mortgage than paying into most of the savings accounts on offer just now. It also has conditions such as having to have a current account with them. Once it matures, it doesn't continue to attract 6%, it drops into a sub-1% standard savings account. Then you have to start again as you say.And yeah, I do mean funding requirements. I already to inter-account transfers to keep my TSB accounts ticking over. But the others require a salary (will a SO from A.N.Other current account suffice? I assumed it wouldn't?) and quite often a minimum number of direct debits. I have very few direct debits which limits me if that's a requirement.




The money put in on the 12th month (let's say £250) earns 6% for that final month; nothing less and nothing more. The £250 put in on the 1st month earns 6% for the whole year. All the £250 monthly payments earn the advertised 6% rate.

You should not be comparing a 6% regular saver with a 2.5% savings account with a balance of £3000. They're completely different things. Main one being the advertised rate BUT also the fact that you do not have to have the £3000 tied into the account for the whole year with a regular saver. You can 'drip feed' the monthly payments from another high paying current account. See here: moneysavingexpert.com/sav…nts

The best way to earn 3%+ with instant access to your money and no risk is by using the above current accounts and regular savers.

And yes, you can use SOs to fulfil the funding requirements from another current account. Does not have to be a salary/wage. I make sure I have all my household bills paid by Direct Debit with Santander to earn cashback, so that easily fulfills their DD requirement (Santander only require 2 DDs).

Of the other banks I mentioned, only Lloyds need DDs on the account. That's easily done by opening a Tesco Internet Saver and Instant Access savings account. All you then do is ask Tesco Bank to create a monthly DD for £1 to be taken from the Lloyds account.

Job done.

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