Deadline approaches for NS&I 'pensioner bonds'

Savers who have not taken up a pensioner bond are running out of time, National Savings & Investments has warned.

The popular +65 Guaranteed Growth Bond, which is open for those aged over 65, closes for business on Friday May 15.

"Customers can buy the bonds online or over the phone up to 11.59pm on Friday, and postal applications must be received by this time or they will not be processed," said National Savings & Investments (NS&I)

The pensioner bonds, which went on sale on January 15, have proved extremely popular, with £10bn-worth of bonds being bought by 825,000 savers in the first eight weeks they were launched.

Any customers calling NS&I to request forms in the post will be advised of the deadline for sales and offered the chance to buy the bonds over the phone if they wish.

The one-year bond pays annual interest of 2.8 per cent and the three-year bond pays a yearly rate of 4 per cent. There is an investment limit of £10,000 per bond per person.

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