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Media centre /
Press releaseNS&I INCREASES INTEREST RATE ON ITS INCOME BONDS19 May 2009NS&I (National Savings and Investments) is increasing the interest rates on its Income Bonds by 1%. The revised interest rates will come into effect from 20 May 2009 for Income Bond customers. NS&I constantly reviews savings products offered by other providers and has made this decision to take into account the rates available on other types of products which might be considered by Income Bond customers. NS&I continues to follow a pricing strategy designed to balance the interests of its savers, the taxpayer and the stability of the financial services market. The interest rates on NS&I’s other savings products, including NS&I’s Guaranteed Income Bonds, will remain unchanged.
1. Gross means the taxable rate of interest without the deduction of UK Income Tax 2. AER stands for Annual Equivalent Rate and enables the comparison of interest rates from different financial institutions and across different products on a like-for-like basis. It shows what the notional annual rate would be if interest was compounded each time it was credited or paid out. Where interest is credited once a year the rate quoted and the AER will be the same ENDS
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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