Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.These are the high-interest government-backed bonds?
They are indeed. They finally went on sale this week to such demand that the website run by National Savings & Investments was unable to cope.
Why was there so much demand?
They're so popular because of the high rates. The one-year bond pays 2.8 per cent while the return on the three-year bond is 4 per cent. That's much better than the nearest competition, paying around 50 per cent more than the average top five one-year fixed rate, and 6o per cent more than the average top five three-year fixed rate.
So where do I sign up?
Whoa there. Only those aged 65 and over are allowed to invest in the bonds. And then the most you'll be allowed to save will be £10,000 in each bond. However, you can put that sum into both of the bonds, meaning that pensioners can stash away £20,000 in the high-paying accounts and couples can put £40,000 in between them.
Is there a limit on how many people can apply?
There's a £10bn limit on the bonds, which means, in effect, that if everyone invested the maximum £20,000, only half a million pensioners would get one. That's why there's been such a rush this week. In fact, when they were launched on Thursday, one pensioner told The Independent that trying to get through on the website was "harder than getting Glasto tickets".
So I should move fast?
If the issue is oversubscribed then the bonds could be handed out on a first-come, first-served basis. If that happens, if you delay, you could miss out. In theory, going online to nsandi.com/65-guaranteed-growth-bonds is likely to be the quickest way to apply to ensure you don't miss out. But with pensioners being unable to apply online this week because of high demand, trying a postal application instead may actually be a good idea.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments