National Savings and Investments (NS&I) has cut the interest rates on British Savings Bonds after just five weeks.
The Treasury-backed savings provider has announced that new issues of the bonds will be on sale from Wednesday, but with lower interest rates, meaning lower returns for investors.
For instance, two-year Guaranteed Growth Bonds will pay 4.25pc, down from 4.6pc. All bonds will see a reduction in rates.NS&I said the change, which will see rates fall by up to 0.35 percentage points, will help to balance the interests of savers, taxpayers and the financial sector.The Bank of England is widely expected to cut […]
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