When do State Savings release a new issue?

Varies. No fixed frequency. Changes are typically announced on a Sunday of a bank holiday weekend.

It has been a while since the NTMA have changed State Savings rates.
 
NTMA rates follow the market. They usually announce changes by statutory instrument (S.I.) which can be found on the web. Certificates were last dropped to 5% in June 2016 (issue 22). I was only thinking about this today because 5 year certs in the 22nd issue if purchased in June 2016 will mature in July 2021. Holders of such certs may reinvest in the same issue on maturity if issue 22 is still available. So I'm thinking that the NTMA may swoop in with a change before then. However, we have a bit of Brexit to get through yet!
 
Does anyone know how long these take to initially process and what notification you get?

I opened a five year one in the local post office over a week ago. The cheque was cashed last Wednesday. The only thing I have is a receipt from the post office that I visited.

I’ve been expecting something in the post from them or an email but as yet nothing, despite the money going out of my account
 
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