NS&I makes changes to its Guaranteed Growth and Guaranteed Income Bond ranges
- NS&I’s 1-year and 2-year Issues of its Guaranteed Growth Bonds and Guaranteed Income Bonds are no longer on sale
- The 3-year and 5-year Issues of NS&I’s Guaranteed Growth Bonds and Guaranteed Income Bonds will remain on sale to customers and continue to offer attractive rates
These changes come into effect as a consequence of NS&I’s regular review of its product offerings and interest rates, to ensure NS&I continues to balance the interests of savers, the taxpayer and the stability of the wider financial services marketplace.
John Prout, Director of Customer Sales and Retention, NS&I, said:
“We always forecast a likely sales volume for our savings products, however due to the popularity of the 1 and 2- year Issues, we have achieved our sales target more quickly than anticipated. We have therefore taken these Issues off sale.”
The 3 and 5-year terms of the Guaranteed Growth Bonds and Guaranteed Income Bonds are still on sale, and continue to offer attractive rates. Additionally, NS&I still has a range of other similar savings products, including Income Bonds and Fixed Interest Savings Certificates.
| Fixed rates (rates effective from 26 October 2009) | Rate (gross1) | AER2 |
|---|---|---|
| 3-year Guaranteed Growth Bonds (Issue 42) | 4.40% | 4.40% |
| 5-year Guaranteed Growth Bonds (Issue 39) | 4.60% | 4.60% |
| 3-year Guaranteed Income Bonds (Issue 42) | 4.30% | 4.39% |
| 5-year Guaranteed Income Bonds (Issue 39) | 4.50% | 4.59% |
Notes to editors
- 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
- NS&I has also recently changed its general enquiries number. Search go Customers will now need to call the freephone number 0500 007 007* to contact NS&I directly. The former chargeable enquiries number, 0845 964 5000, will continue to operate but customers may incur a charge from their provider. NS&I’s sales line will continue to operate through 0500 500 000. * Calls from mobiles may not be free. Calls may be recorded. Calls will be taken by one of NS&I’s award-winning UK customer service team, available every day from 7am till midnight.