Property News · November 27, 2016

NS&I bond raises hopes of greater savings competition


Savings expert says modest rate may encourage interest from other providersA market-leading savings bond announced in the autumn statement will hopefully encourage other providers to unveil better-paying deals, and could mean the government thinks interest rates may rise next year, according to one industry expert.During his speech on Wednesday chancellor Philip Hammond pulled a small rabbit out of his hat in the form of a government-backed three-year NS&I savings bond expected to pay around 2.2% interest, which will go on sale in the spring. The Treasury said this was the “indicative” rate, and added: “This may be adjusted to reflect market conditions when the product is launched.” Continue reading…

Source : theguardian.com
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