NS&I launches new bonds

National Savings and Investments NS&I has released new Issues of its Guaranteed Growth Bonds and Guaranteed Income Bonds.

Rates of up to 4.60 per cent AER will be available, while the interest rates on NS&I's other savings products will remain unchanged.

John Prout, director of customer sales and retention at NS&I, said the move was "good news for savers".

He explained that customers can choose to invest between £500 and £1 million in one, two, three or five-year bonds.

Mr Prout added: "With the new rates starting at 3.85 per cent gross/ 3.92 per cent AER for a one-year bond, we hope that the new issues will be highly attractive to customers who are looking for a guaranteed fixed rate of interest, coupled with 100 per cent security for their money, as NS&I is backed by HM Treasury."

Last week, NS&I announced that its Guaranteed Growth Bonds and Guaranteed Income Bonds will no longer be available through the Post Office, which is promoting its own savings products.

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2009-10-28 13:46:07 © Moneyextra.com