New NS&I savings certificates may prompt consumers to invest
Consumers could be encouraged to invest as NS&I has unveiled new Issues for savings over a five-year period.
Individuals can choose for a Fixed Interest Savings Certificate offering a rate of 2.25 per cent AER, or an Index-linked Savings Certicate, which will pay 0.5 per cent above the rate provided by the Retail Prices Index.
The latter product makes use of the figure calculated at the start of each year, rather than the changes that happen throughout.
"Our aim is to keep Savings Certificates on sale for a sustained period of time and to enable as many savers as possible who wish to invest to do so," said NS&I chief executive Jane Platt.
She added that people keen to sign up to the products will find it simple to do so online.
All returns from the Issues are tax-free and consumers can invest a maximum of £15,000 and a minimum of £100.
Use the Myfinances.co.uk's comparison tools to find a better deal on a savings account
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