New rates for NS&I savings bonds

Monday, 26 October 2009 12:00

National Savings & Investments (NS&I) has increased the interest rates on offer through its Guaranteed Growth and Income Bonds.

A two per cent hike has been applied to the five-year Guaranteed Growth Bond to provide a rate of 4.6 per cent to savers with a minimum of £500 to deposit.

And a 2.95 per cent increase has been made to the one-year version of the bond, which now returns 3.95 per cent.

There are also a two and three year versions of the bonds available.

NS&I has also increased the rates on its Guaranteed Income Bonds, with interest starting at 3.85 per cent for a one-year product.

There are two, three and five year versions of the bond, with the latter paying five per cent interest.

John Prout, director of customers sales and retention, said: "The new issues of our Guaranteed Growth Bonds and Guaranteed Income Bonds are good news for savers.

"Customers can choose to invest between £500 and £1 million in our one, two, three or five-year bonds.

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