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65+ Guaranteed Growth Bonds

65+ Guaranteed Growth Bonds

Here's what you need to know about 65+ Guaranteed Growth Bonds:


What are they?
 

  • Lump sum investments that earn a fixed rate of interest either over a 1-year and 3-year period
  • Designed to be held for their full term
  • If cashed in before the end of the term, there will be a penalty
  • On the anniversary of your investment, interest is credited with basic rate tax taken off


How much can I invest?
 

  • Minimum investment of £500 up to a maximum of £10,000 in each one


Can I have more than one bond?
 

  • You can buy more than one Bond, as long as the total amount you invest in each term isn’t more than £10,000


Can I invest jointly?
 

  • You can combine your full allowance with another person aged 65 or over
  • This means you can invest up to £20,000 between you in each issue of each term


What if I change my mind?
 

  • There is no right to cancel as 65+ Guaranteed Growth
  • Bonds are fixed rate investments with a set term


How is interest paid?
 

  • Interest is earned from the day of your application and payment
  • Interest is calculated on the daily balance held in your Bond, at the fixed rate on offer when you invested


When will interest be paid?
 

  • For a 1-year terms the interest is added to your bond when it matures
  • For a 3-year terms the interest is added to your bond on each anniversary therefore giving you the benefit of compound interest

 

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