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.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Trust in the travel industry ‘at record low’

Trust in the travel industry has plunged to a record low as airlines and holiday companies continue to deny and...