UK Money News
18th June 2008
NS&I raises rates on fixed rate investments
National Savings and Investments (NS&I) has announced it has increased the interest rates on its fixed rate investments by up to 0.75 per cent.
The change will apply to the company's Fixed Interest Savings Certificates, Index-linked Savings Certificates, Children's Bonus Bonds, Guaranteed Income Bonds and Guaranteed Growth Bonds.
The most marked increases are for the rates being offered on NS&I's one year and three year guaranteed income bonds, which are up by 0.75 per cent to 4.65 per cent.
Meanwhile, the rates on one-three and three-year guaranteed growth bonds have also been put up by 0.75 per cent to 4.75 per cent.
Conversely, savings certificates which are index linked are up by the smallest amount and have increased by 0.3 per cent to one per cent above inflation.
A statement from the firm said: "NS&I prices its fixed rate investments according to a number of factors, the principal factor being the return on gilts.
"Because the return on real and nominal gilts has increased since its last rate change NS&I will now offer higher rates on its fixed rate investments."
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