NS&I changes bond investment procedure

National Savings & Investments NS&I has announced changes to the way customers can invest in its Guaranteed Growth Bonds and Guaranteed Income Bonds.

From Monday October 26th, these products will solely be available directly from NS&I and no longer through the Post Office.

The change has been agreed jointly by the institutions, and comes as the Post Office looks to promote its own range of savings products.

However, branches will continue to offer a range of other NS&I savings products such as Premium Bonds and Savings Certificates.

Peter Cornish, director of customer offers at NS&I, said the organisation was committed to making its products "as straightforward as possible" and ensuring customers understand where they are investing their money.

He added: "The changes we have jointly agreed with the Post Office will do just that. Our Guaranteed Income Bonds and Guaranteed Growth Bonds will continue to offer customers a simple and straightforward saving opportunity."

Consumers seeking the best savings rates may know that Scottish Widows Bank launched a new web-based account this week, while the Cheshire, Derbyshire and Dunfermline building societies also introduced a monthly saver.

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2009-10-22 14:29:05 © Moneyextra.com