NS&I INCREASES INTEREST RATE ON INCOME BONDS

NS&I has today increased the interest rate on its Income Bonds by 14 basis points, from 0.01% gross/AER to 0.15% gross/AER.

This change aligns the interest rate for Income Bonds with the interest rate for NS&I’s Direct Saver account. The decision to increase the interest rate on Income Bonds is in line with NS&I’s operating framework to balance the interests of savers, taxpayers and the broader financial services sector.

Product

Previous interest rate

Interest rate from 18 November 2021 (change in brackets)

 

Income Bonds

0.01% gross/AER

 

0.15% gross/AER (+14 basis points)

 

 

–Ends–

 

Notes to Editors

  1. NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to 25 million customers. All products offer 100% capital security as NS&I is backed by HM Treasury.
  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.
  3. Gross is the taxable rate of interest without the deduction of UK Income Tax.
  4. Information on our products can be found here.
  5. For further information please contact the NS&I media team.

 

NS&I media team

Chris Dowsett             07778 966375             chris.dowsett@nsandi.com

Jonty Alone                 020 7932 6633             jonty.alone@nsandi.com

Sara Brown                 020 7932 6874             sara.brown@nsandi.com

Sam Faulkner             020 7932 6801             sam.faulkner@nsandi.com

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