Tag: NS&I

NS&I reduces Isa interest rate to 2.25%

NS&I reduces Isa interest rate to 2.25%

National Savings & Investments (NS&I) has reduced the interest rate on its tax-free cash Isa from 2.5% to 2.25, affecting 320,000 savers. The cut follows a review of the market which identified a trend for rates to be cut on similar products. The cut by NS&I, which is the first it has made since 2009, […]

November 5, 2012 More
National Savings reduces rate to safeguard competition

National Savings reduces rate to safeguard competition

National Savings & Investment is cutting the interest rate on its Direct Saver account from 1.75% to 1.5% with effect from today, because the account is too popular. Government-backed NS&I has already substantially exceeded its target to raise £2bn from savers in the 2011/12 financial year and now needs to slow the rate of deposits […]

January 25, 2012 More
NS&I to cease selling via Post Office

NS&I to cease selling via Post Office

From November 28, National Savings and Investments (NS&I) will cease selling its accounts via the Post Office. It has been announced that the Government-backed NS&I will no longer sell investment or easy access savings accounts over the counter at the Post Office. NS&I runs Premium Bonds and a variety of savings products. However, from the […]

November 3, 2011 More
NS&I forced to withdraw index-linked bond

NS&I forced to withdraw index-linked bond

Savers have once again been hit after Government-backed National Savings & Investments (NS&I) has announced its index-linked bond has been withdrawn from the market. NS&I, which runs Premium Bonds and a variety of savings products, said its index-linked bond (which gives savers protection against inflation) has been pulled. NS&I’s website and call centres ceased accepting […]

September 7, 2011 More
Brits saving amid economic and unemployment uncertainty

Brits saving amid economic and unemployment uncertainty

A study by National Savings & Investments (NS&I) has revealed that Britons are topping up their savings on a regular basis, amid fears about rising unemployment and uncertainty surrounding the economy. Government-backed NS&I, which runs Premium Bonds and a variety of savings products, said over half of Britons are regularly setting money aside. Britons are […]

October 11, 2010 More
Savers hit as NS&I withdraw some products

Savers hit as NS&I withdraw some products

Government-backed National Savings & Investments (NS&I), which runs Premium Bonds and a variety of savings products, has today announced its Savings Certificates have been withdrawn from the market. These saving products, which are linked to the inflation rate, have been withdrawn because sales “far exceeded” the level anticipated, said NS&I. In the meantime, NS&I said […]

July 19, 2010 More
Brits start saving at age 25

Brits start saving at age 25

Most Brits don’t get serious about putting money aside into a savings account until they reach age 25, according to a study by National Savings and Investments (NS&I). Research by the savings provider found more than a fifth (22%) of UK consumers don’t start setting aside money until after their 30th birthday, while a further […]

February 25, 2010 More
NS&I to encourage savers with new account

NS&I to encourage savers with new account

Government-backed National Savings & Investments (NS&I), which runs Premium Bonds and a variety of savings products, is to launch a new savings account in March with an “attractive” interest rate. The news will be welcomed by savers who have been suffering amid the historically low interest rate environment. The financial crisis led to many British […]

January 26, 2010 More
Savers confident for 2010

Savers confident for 2010

UK consumers expect to have more spare cash to set aside for savings in the year ahead, new research has discovered. A study by National Savings and Investments (NS&I) found over a quarter (27%) of Brits are more likely to save money in 2010 than they were in 2009. Male savers are the most confident […]

January 7, 2010 More
Brits keep saving during downturn

Brits keep saving during downturn

Brits are continuing to put money aside into savings accounts despite the recession, according to new research. People are saving around 6% of their take-home income, a similar level to 2005, the survey by National Savings and Investments (NS&I) found. Financial uncertainty and low interest rates have failed to change people’s savings habits, NS&I said. […]

December 7, 2009 More
NS&I hopes to attract more savers as it raises rates

NS&I hopes to attract more savers as it raises rates

Government-backed National Savings & Investments (NS&I), which runs Premium Bonds and a variety of savings products, has unveiled a rise in the interest rates on some of its policies. The news will be welcomed by savers who have been suffering amid the historically low interest rate environment. NS&I said rates on its guaranteed growth bonds […]

October 26, 2009 More
NS&I see savers flee as confidence returns

NS&I see savers flee as confidence returns

Government-backed National Savings & Investments (NS&I) said it has been hit by a return in confidence in banks. The financial crisis led to many British savers withdrawing their funds from banks and choosing safer havens, such as the NS&I. In the final quarter of 2008, which covered the height of the banking crisis, NS&I reported […]

NS&I reissues two-year fixed-rate bond

NS&I reissues two-year fixed-rate bond

National Savings & Investments (NS&I) has launched new issues of its two year fixed-rate bonds. The Guaranteed Growth Bond pays interest at the end of the two-year term at a rate of 3.75% per annum. The Guaranteed Income Bond pays interest monthly at a rate of 3.65% per annum. Both bonds offer a 100% capital […]

NS&I launches FTSE-linked bond

NS&I launches FTSE-linked bond

National Savings and Investments (NS&I) yesterday launched the 18th issue of its Guaranteed Equity Bond (GEB). The five-year bond pays returns linked to the performance of the FTSE 100 index. Over the term of the bond investors can earn a maximum of 40% on their original investment, with no risk to their capital. Returns are […]

Savings hit record high despite shrinking economy

Savings hit record high despite shrinking economy

The amount of money Brits are putting aside for a rainy day has reached a record high, according to research by National Savings & Investments (NS&I). The average UK consumer deposited £92.41 per month into their savings account this spring, the highest amount since NS&I records began in 2004. Regular savers, meanwhile, put aside an […]

Carefree Brits spend more in the summertime

Carefree Brits spend more in the summertime

Brits are splashing their spare cash on having a good time rather than stashing it away in a bank account, a study by National Savings & Investments (NS&I) has discovered. Money saved on cheaper heating and electric bills during the summer months will be spent on socialising and leisure activities, NS&I found. Two in five […]

Premium bond prize fund hits new low

Premium bond prize fund hits new low

A consumer rights website has slammed the returns offered by NS&I premium bonds, with interest rate cuts ‘swallowing up’ the likelihood of a decent return on savings. Research by MoneySavingExpert.com found that the chance of beating inflation with savings in premium bonds has dropped from 75% to 1% following changes to the prize draw. Changes […]