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Media centre /
Press releaseNEW FIXED RATE, DIRECT 2-YEAR BONDS FROM NS&I11 July 2009
NS&I is to launch a new 2-year issue of both its Guaranteed Growth Bonds and Guaranteed Income Bonds – which will go on sale on 13 July 2009. The new 2-year Bonds will only be available direct (via phone or online) from NS&I, and will pay an interest rate of 3.75% per annum and 3.65% respectively. Customers can invest between £500 and £1 million in total in the fixed rate bonds, with guaranteed rates of interest. The Guaranteed Income Bond offers customers the opportunity to receive their interest as a monthly income, while with the Guaranteed Growth Bond customers will receive their interest at the end of the 2-year term. The Bonds come with the 100% capital guarantee which NS&I can offer because all of its savings and investments are backed by HM Treasury. The new Bonds, which are available online and through NS&I’s award winning UK based call centres, are part of NS&I’s strategy to encourage customers to buy and manage their savings with NS&I directly. This enables NS&I to offer a more attractive interest rate to customers. Peter Cornish, Director of Customer Offer at NS&I, said: “Our Guaranteed Income Bonds and Guaranteed Growth Bonds offer customers a simple and straightforward saving opportunity. “Money saved in our Guaranteed Income Bonds or our Guaranteed Growth Bonds will earn a competitive and guaranteed rate of interest for the next two years. It is a simple offer, and easy to take up – either online at www.nsandi.com or through our UK based call centres.” Dr Robin Keyte, Chartered Financial Planner and Director of Towers of Taunton Ltd, which specialises in fee-based financial planning and socially responsible investments, commented on the new issues: “NS&I’s Guaranteed Growth Bonds and Guaranteed Income Bonds are an effective way to earn a fixed rate of interest on your investment, either as monthly income or as a lump sum at the end of the term. Like all NS&I investments, they also have the added benefit of a 100% capital guarantee, which is something many people will value highly in the current environment.”
ENDS Notes to editors Key features
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. About NS&I NS&I is one of the UK’s largest financial providers with almost 27 million customers and over £94 billion invested. It is best known for Premium Bonds, but also offers Inflation-Beating Savings, Guaranteed Equity Bonds and Children’s Bonus Bonds in its range. All products offer 100% security, because NS&I is backed by HM Treasury. NS&I products are available over the telephone, internet, post and by standing order. They are also available through a network of Post Office® branches. Customers can also pick up brochures for our Premium Bonds, Inflation-Beating Savings and Income Bonds at retailer WHSmith in 400 of its High Street stores and 155 of its travel stores. Senior spokespeople are available for interview. Contact the media team to arrange an interview.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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