NS&I ups selected rates

National Savings and Investments NS& I is increasing the interest rates on a range of its fixed rate savings offers by up to 0.35% p.a - all new rates coming in with immediate effect. The rise follows increases in the returns on gilt yields since NS& I last changed interest rates on some of its fixed interest offers back on May 23rd.

Products to benefit from increased interest rates are: Fixed Interest Savings Certificates, Fixed Rate Savings Bonds, Capital Bonds and Pensioners Guaranteed Income Bonds. The changes also mean a new issue of Children's Bonus Bonds will go on sale.

NS& I prices its fixed rate products according to a number of factors, the principal one of which is the return on gilts. Because the return on gilts has been increasing, NS& I says it's able to offer higher rates on most of its fixed rate products.

Meanwhile, its variable rate products are influenced by Bank of England base rate changes and were adjusted on May 23rd.

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2007-06-21 10:33:32 © Moneyextra.com