Close to a quarter of a million customers bought Issue 72 of NS&I’s one-year Guaranteed Growth Bonds and one-year Guaranteed Income Bonds, news which proved to be incredibly popular with IFA Magazine readers.
Launched on 30 August 2023, the Bonds offered 6.20% gross/AER and 6.03% gross/6.20% AER respectively, fixed for a year. The Bonds were available to purchase until Thursday 5 October 2023, however NS&I have announced today that they are no longer on sale. Their statement is shown in full below.
Close to a quarter of a million savers invested in NS&I’s one-year Guaranteed Growth Bonds and one-year Guaranteed Income Bonds which are now no longer on sale.
Since going on sale on 30 August 2023, more than 225,000 customers have benefitted from the highest ever interest rate offered for this product since it launched in 2008, along with HM Treasury’s 100% guarantee on all money invested.
The one-year Guaranteed Growth Bonds and Guaranteed Income Bonds had been on sale for more than five weeks. In withdrawing them from general sale, NS&I remains on track to meet its Net Financing target for 2023-24.
NS&I Chief Executive, Dax Harkins, said:
“This summer’s new one-year fixed-rate Bonds have been a great success. I am pleased we were able to keep them on sale for over five weeks, enabling more than 225,000 savers to benefit from the highest interest rates we have ever offered on these products.”
The Bonds were available to purchase until Thursday 5 October 2023, and NS&I stopped taking new sales on Friday 6 October. Postal applications received for a reasonable period will be honoured.
On maturity, existing Guaranteed Growth Bonds and Guaranteed Income Bonds customers will have the choice to withdraw their cash or reinvest for another term of the same length. Alternatively, they can reinvest into any of the other terms and Issues of Guaranteed Growth Bonds and Guaranteed Income Bonds on offer to existing customers (one, two, three and five-year terms for both products), regardless of which Guaranteed Growth Bond or Guaranteed Income Bond they currently hold.
