National Savings and Investments (NS&I) has launched new issues of its British Savings Bond products this morning.
One- and five-year British Savings Bonds have gone back on the market after a 15-year absence and are now on sale together with two- and three-year bonds. It’s the first time that they have all been on sale together since 2010 and with an increased interest rates for all term lengths and all customers.
The new interest rates are as per the table below.
Source: NS&I
The Guaranteed Growth Bonds and Guaranteed Income Bonds are fixed-term savings accounts with guaranteed returns. They are only available to savers with a minimum investment of £500 and to those who are happy to lock their money away for the whole duration of the chosen term.
Today’s changes will help NS&I to meet its new net financing target, NS&I retail director Andrew Westhead said.
“We continue to balance the interests of savers, taxpayers and the broader financial services sector,” he said.
“In today's changing market, I'm glad we can offer savers who are looking for guaranteed rates greater choice, safe in the knowledge that their savings are 100% protected.”