NS&I launches inflation busting savings accounts

NS&I launches inflation busting savings accounts

National Savings and Investments (NS&I) has launched two new inflation-busting savings accounts.

The government-back savings provider said its Index-linked Savings Certificates offer savers the chance to invest up to A?15,000 tax free per issue.

Interest on the two accounts will be tied to the retail price index (RPI) rate of inflation.

Certificates can be held for a three of five year term with a minimum investment of A?100.

Compound interest is paid for each year that the investment is held.

NS&I said: “Interest and any positive index-linking are applied annually on each anniversary date.

“However, if index-linking is negative from one anniversary to the next, it is ignored and the extra interest is still added.”

As such, the original capital investment is 100% secure even if the RPI enters deflation.

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