Guaranteed Equity Bond (GEB) - managing your account

If you have any questions about managing your Guaranteed Equity Bond (GEB), check the frequently asked questions below to see if we can help (just click the question and the answer will appear underneath):

Visit our how the GEB works page for a more detailed explanation of how your returns are calculated, what the GEB risks and rewards are, and which companies are used to measure your results.

• Who can invest in a GEB?

  You must be 18 years or over to apply for a GEB.

• How much can I invest?

  The GEB minimum is £500 and there is no maximum.

• What happens if I need to get my money out before the end of the GEB fixed term?

  No withdrawals are allowed at any time before the end of the GEB fixed term.

• What happens in the GEB final year?

  The level of each index is averaged over the final year. This helps to dampen any major fluctuations in the final year. This means that if the markets fall significantly at the end of your plan, your GEB would be less affected. It also means of course, that any rises will be averaged too which is likely to reduce the GEB plan's return.

• Is there any tax to pay?

  Basic rate tax is deducted at source. Higher rate tax payers will have further tax to pay on GEB growth payments.

• What happens at the end of the fixed GEB term?

  Legal & General will write to you shortly before GEB maturity outlining the options available to you.

  If your instructions are not received in time, the GEB proceeds will be held in an interest-bearing client account until the instructions are received.

  If they do not hear from you within a reasonable time period, the proceeds will be sent to the nominated bank or building society account stated in the original application.

• What happens if a GEB plan holder dies during the fixed term?

  Your GEB capital is only guaranteed if held to the end of the fixed GEB term. If the sole plan holder dies before the end of the term, and the holding is not retained until that date, your personal representatives may get back less than the original investment dependent on the current value as provided by the deposit taker.

  For GEB plans held in joint names the plan will continue in the name of the survivor.

• Why is the plan operated by Legal & General?

  We've joined forces with Legal & General so that you can benefit from their experience, knowledge and great service. Like Nationwide, Legal & General puts its customers interests at the heart of its business. Legal & General are also responsible for investing more than £301 billion worldwide (as at 31 December 2007) - and relied on by over 5.75 million people for their life, pensions, investments and general insurance plans - which means you can be safe in the knowledge that your finances are being well looked after.

• How do I contact Legal & General about my GEB?

  If you have a query regarding your existing GEB plan then you can call Legal & General on 0870 050 0955 or write to:

  Legal & General Retail Investments
  Customer Services
  PO Box 1004
  Cardiff
  CF24 0YS.

• How do I change my name or address?

  If you need to change your GEB personal details please write to:

  Legal & General Retail Investments
  Customer Services
  PO Box 1004
  Cardiff
  CF24 0YS.

  If you change your name (for example through marriage/divorce) then Legal & General will need to see evidence in the form of a marriage certificate or deed poll.