Inflation-beating NS&I bonds back at last
Beleaguered savers have been given a timely Budget boost that will see National Savings & Investments relaunch its index-linked certificates.
However, NS&I says the inflation-beating bonds won't be available immediately but will go on sale at some point 'within the next year'.
As it happens, I have just had set of index-linked cerificates (issue
16) come to maturity and NSI gave me the option to contiune a new index linked issue for the same term. this is "exclusively available to existing cusomers whise certificates have matured".it was a 3 year term and the new one is
inflation +.85% in year 1 +0.95% in year 2 +1.21% in year 3.
if you keep it for the full term that is inflation +1% compound AER. That's better than the previous rate which was inflation +-0.25% compund.
"To continue with your investment you don't need to do anything. Simply keep this letter with your existing certificate as a record of the new rates".
Robert
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