Clarke Nicklin’s Financial Planning department are reporting that the ‘65+ GUARANTEED GROWTH BONDS’ via the governments’ savings arm NS&I released 15 January, are now extended to 15 May 2015.
The bonds are lump sum investments that earn a fixed rate of interest over a set period of time. The rates are 2.80% gross/AER for one year’s term or 4% gross/AER for a 3 year term, both of which are taxable but could still be worthwhile.
Left: Clarke Nicklin’s Financial Planning Partner Scott Herbert
If you are over 65, have a minimum of £500 max £10,000 to invest and are able to leave this money invested for either 1 or 3 years, these bonds may be an ideal route for you.
You don’t have to be retired but you do have to be over 65 and the bonds are designed to be held for their full term. If you cash them in early you will pay 90 days interest so think carefully if this is the right move for you.
If it’s not for you and you need a regular income from your savings, then you should consider speaking to an Independent Financial Advisor who will take you through alternative options.
If you are interested in investing through this scheme act quickly as there are only £10 billion worth of bonds available!
You can apply for them via nsandi.com or by phoning 0500 500 000.
Clarke Nicklin financial planning is a trading name of CNFP LLP, a Ltd Liability Partnership registered in England and Wales No.OC324909. CNFP LLP is an appointed representative of Lighthouse Advisory Services Ltd which is authorised and regulated by the Financial Conduct Authority
Contact Scott on 0161 495 4700 pensions@cnfp.co.uk www.cnfp.co.uk