NS&I admits interest delay - Savings - News - Moneyfacts

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NS&I admits interest delay

NS&I admits interest delay

Category: Savings

Updated: 12/01/2010
First Published: 12/01/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
A technical problem has meant around 8,000 investors in National Savings & Investment's (NS&I) Income Bonds have not yet received their interest payment for this month, despite being due on 5 January.

Approximately 3% of all Income Bond customers have been affected, all of whom will have purchased bonds during a five day period between 24 and 28 November each year until 2009.

The Government-owned institution said it was writing to all affected customers confirming the outstanding interest would be paid as soon as possible.

"We know that the delay in income payments will be an inconvenience to our customers and we apologise profusely for this," said NS&I's channel director, Steve Owen.

"We are working to rectify the problem, and hope to be able to make January's income payments as soon as possible. We will provide a further update once we have the date of payment confirmed."

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