NS&I to launch new RPI-linked savings certificates

National Savings and Investments NS&I is to release new issues of its Index-linked Savings Certificates.

The new issues, sold in three and five-year terms, will be available to consumers from Wednesday April 7th.

Each year, the value of the certificates moves in line with inflation as measured by the Retail Prices Index RPI, with guaranteed interest also added.

The certificates are designed to be held for the whole investment term to receive the full guaranteed compound interest.

Savers can make a minimum investment of £100, with a maximum of £15,000 permitted per issue.

NS&I recently launched a new Direct Saver account paying a variable interest rate of two per cent AER.

Account holders can invest from £1 up to £2,000,000 and manage their account online 24 hours a day.

A spokesperson for NS&I commented: "NS&I balances three factors - delivering a fair rate to savers, fulfilling a remit of delivering cost-effective funding for government and maintaining a stable competitive position to support the stability of the wider financial services marketplace."

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2010-03-16 13:31:57 © Moneyextra.com