Savers with NS&I face a series of changes from May. Savers with NS&I fixed and variable savings products will earn less interest from 1 May as rates are cut across the board, and the likelihood of winning prizes on Premium Bonds lowered.
Interest on the Direct Saver account will fall to 0.7%, down from 1%. The reduction is less on the Investment Account, which falls to 0.6% from 0.8%. Savers with Income Bonds will be hit the hardest; their interest is being cut to 0.7% from 1.15%.
The Premium Bonds prize fund rate will reduce to 1.3% from 1.40%. This means […]
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