Media centre /
Press release
NATIONAL SAVINGS AND INVESTMENTS RATE CHANGES
22 August 2002
These new issues have been introduced following further falls in yields in the market generally of up to 0.40 per
cent since National Savings and Investments last reviewed its rates in July 2002.
Rates on offer for current issues of 2-year and 5-year Index-Linked Savings Certificates, Capital Bonds and
Children's Bonus Bonds remain unchanged.
ENDS
Notes to Editors
1. Media Information
| Mark Brooks | 020 7348 9301 | mark.brooks@nsandi.com |
| Jonathan Akerman | 020 7348 9433 | jonathan.akerman@nsandi.com |
| Angela Metschke | 020 7348 9449 | angela.metschke@nsandi.com |
| Samantha Bennett | 020 7348 9654 | samantha.bennett@nsandi.com |
| Fax | 0207 3489755 | |
| Out of hours | 07778 966387 | |
Annex A
New Issues of Fixed Rates - Available from 23 August 2001
| Gross Rates* | Rate pa (change in brackets) | AER** |
1-year Pensioners Guaranteed Income Bonds
Series 12 | 3.40% (-0.35%) | 3.45% |
2-year Pensioners Guaranteed Income Bonds
Series 18 | 3.70% (-0.35%) | 3.76% |
5-year Pensioners Guaranteed Income Bonds
Series 27 | 4.20% (-0.30%) | 4.28% |
1-year Fixed Rate Savings Bond
Issue 15 | | |
| | £50,000+ | 3.50% (-0.40%) | 3.50% |
| | £20,000+ | 3.30% (-0.40%) | 3.30% |
| | £500+ | 3.10% (-0.40%) | 3.10% |
| | | | |
| monthly interest option | £50,000+ | 3.40% (-0.40%) | 3.45% |
| | £20,000+ | 3.25% (-0.35%) | 3.30% |
| | £500+ | 3.05% (-0.35%) | 3.09% |
3-year Fixed Rate Savings Bond
Issue 8 | | |
| | £50,000+ | 4.10% (-0.35%) | 4.10% |
| | £20,000+ | 3.90% (-0.35%) | 3.90% |
| | £500+ | 3.70% (-0.35%) | 3.70% |
| | | | |
| monthly interest option | £50,000+ | 4.00% (-0.35%) | 4.07% |
| | £20,000+ | 3.80% (-0.35%) | 3.87% |
| | £500+ | 3.60% (-0.35%) | 3.66% |
5-year Fixed Rate Savings Bond
Issue 6 | | |
| | £50,000+ | 4.35% (-0.35%) | 4.35% |
| | £20,000+ | 4.15% (-0.35%) | 4.15% |
| | £500+ | 4.00% (-0.30%) | 4.00% |
| | | | |
| monthly interest option | £50,000+ | 4.25% (-0.35%) | 4.33% |
| | £20,000+ | 4.05% (-0.35%) | 4.13% |
| | £500+ | 3.90% (-0.30%) | 3.97% |
| Tax-free Rates*** | Rate pa (change in brackets) | AER** |
| | Rate pa/AER** (change in brackets) | Equivalent grossed up rate for basic rate taxpayers**** | Equivalent grossed up rate for higher rate taxpayers**** |
2-year Fixed Interest Savings Certificates
14th Issue
Guaranteed compound rate over 2 years | 2.70% (-0.30%) | 3.38% | 4.50% |
5-year Fixed Interest Savings Certificates
64th Issue
Guaranteed compound rate over 5 years | 3.10% (-0.35%) | 3.88% | 5.17% |
* Gross means the taxable rate of interest without the deduction of UK Income Tax
** 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.
*** Tax-free means the return is exempt from UK Income Tax at all rates of taxation.
**** At current tax rates.
Media team
NS&I has a number of spokespeople available for interviews and our experienced radio team is available via our ISDN line: 020 7602 4522.
The numbers below are for media use only.
Customers
wishing to contact NS&I can find details here.
Back to top
