NS&I has today announced that it is reducing interest rates on 1st May on four of its variable rate products – Premium Bonds, Direct ISA, Direct Saver and Income Bonds.
In the spring, NS&I will be launching Investment Guaranteed Growth Bonds – a new 3-year savings Bond that was announced in the last Autumn Statement. The new Bonds will be available for 12 months from spring 2017 with an indicative interest rate of 2.20% gross/AER. The precise rate will be confirmed nearer to launch. The Bonds will be open to people aged 16 and over and will have a minimum investment of £100 and a maximum investment of £3,000.