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.
Previous interest rate
Interest rate from 18 November 2021 (change in brackets)
0.15% gross/AER (+14 basis points)
Notes to Editors
- 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.
- 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.
- Gross is the taxable rate of interest without the deduction of UK Income Tax.
- Information on our products can be found here.
- For further information please contact the NS&I media team.
Follow us on Twitter: @nsandi