Debt management news: NS&I investors warned interest delayed

13/01/2010

People relying on interest from NS&I investment bonds to help solve debt problems have been warned that the payment of interest has been delayed.

Approximately 8,000 customers with investments in NS&I's income bonds have been told that their interest has not yet been paid due to a "technical issue".

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

Interest on the bonds should have been paid on January 5th but the payment date is now indefinite as the company is "deploying all necessary measures to ensure that the issue is resolved".

Most people using this type of income bond do so in order to receive a little extra regular income from their investments.

The bonds pay 1.71 per cent on deposits under £25,000 and 2.02 per cent on higher balances.

Tags; Budgeting Advice,

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