You are here: Home - Saving-Banking - News -

NS&I offering some of the best savings deals including top easy access rate 

Written by:
NS&I now offers some of the top-paying savings accounts on the market following its decision to cancel planned rate cuts due to come into force on 1 May.

The government’s savings arm announced a host of interest rate cuts in February but u-turned on its plans in a bid to help savers during the coronavirus crisis.

The decision means it currently tops two of the best-buy tables: 1.16% on its Income Bond puts it top of the easy access accounts and 3.25% is top for cash junior ISAs.

Sarah Coles, personal finance analyst, Hargreaves Lansdown, said: “NS&I is attracting some love in a time of coronavirus.

“It already has more than a third of people in the UK as customers, and its response to the crisis so far is winning over plenty more.

“While other competitive accounts have been battered by the interest rate environment, these accounts are standing strong.”

NS&I products have always been popular with savers because the money is 100% guaranteed by the government.

In fact, a survey by Hargreaves Lansdown found just 7% of the 25 million NS&I customers picked their accounts for the competitive rate.

Just under a third (30%) said it was because their money was safe, and 13% said it was because of their trust in the brand.

Over a third (36%) said they saved with the organisation because of the attraction of winning a big prize on Premium Bonds.

NS&I also offers an interest rate of 1% on its Direct Saver, and 0.9% on its easy access cash ISA.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week