Property News · March 29, 2016

NS&I cuts interest rates for millions of savers


Investment, direct Isa, direct saver and income bond accounts will all be affected by National Savings & Investments’ decision to reduce rates Millions of savers were dealt a blow after National Savings & Investments cut the interest rates on many of its accounts. NS&I has also slashed the number of premium bond prizes, thereby reducing people’s chances of winning.The rate on the investment account, held by more than 1.7 million people, will fall from 0.75% to 0.45%, while the 415,000 holders of the Direct Isa will see their rate drop from 1.25% to 1%. The direct saver rate will fall to 0.8% from its current 1.1%, while income bonds will now pay 1%, down from 1.25%. Continue reading…

Source : theguardian.com
Read more…NS&I cuts interest rates for millions of savers

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