NS&I: Rate hike for savings bonds
National Savings & Investments (NS&I) is increasing the interest rates on its income bonds by one per cent, it has revealed.
Savers will now receive interest at two per cent on bonds with balances of £25,000 or more and 1.7 per cent if their savings are between £500 and £24,999.
In a statement, NS&I said it was constantly reviewing the savings products offered by other providers.
It said it made the decision to increase the interest it offered by taking into account rates available on its competitors' products.
The new interest rates will come into effect on May 20th for all income bond customers.
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