Do you have NS&I Savings Certificates? Changes on 23rd

Do you have National Savings Certificates?  If your answer is yes, then you need to be aware of the latest changes to Index-linked Savings Certificates and Fixed Interest Savings Certificates that come into effect on Monday 23^rd July 2023.

Previously, with both types of Certificates, you could access your investment before the end of its term but would have been charged a penalty equal to 90 days’ interest on any money you took out early.  Additionally, with Index-linked Savings Certificates, you would lose a year’s index-linking on the whole Certificate.

With effect from Monday, when you decide to renew a Certificate, you will not have access to your money until the Certificate reaches the end of its new term.

Your will however have the right to cancel within 30 days of renewing their Certificate.

For more information about NS&I products:  https://www.nsandi.com.

Comment

This is a harsh stance taken by NS&I and makes them less attractive for investors looking for safe, secure investing where access may be required in the event of an emergency.  IF, however, you still have a separate emergency fund, then NS&I certificates still offer a secure investment and return.