New State Savings Rates

I'm considering purchasing 6-Year Savings Certs. Apologies if this is a silly question... have I got this right?

The money you pay in has to stay put for 6-Years. So Year 1 savings stay put for 6 years ....and Year 6 savings stay put for 6 years
So it will actually be 12 years before all the savings have matured?
 
Ah now, come on, tell us where you heard that wan?
 
There is no 6 year saving cert, do you mean the 6 year installment savings ?

If so, you save for a year and the money stays put for another 5 years ( 6years in total)
You don't add money in year 2-6.
If you choose to open another one every year, then it works like this

Installment saving account 1 - Save in 2021, matures in 2026
Instlallment saving account 2 - Save in 2022, matures in 2027

These would be completely separate products with no link between them
 
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