NS&I offers highest ever fixed rate for bonds as it tries to win back customers

The rates are the highest ever for both Bonds since they first went on sale in 2008 and are coming close to matching inflation which currently sits at 6.8 per cent

Laura Suter, head of personal finance at AJ Bell, said: “It’s no surprise that NS&I has today increased the rates on its fixed-rate accounts, as the figures show it has seen £300m of outflows in the past two months.

Myron Jobson, Senior Personal Finance Analyst, interactive investor, added: “The move is a real statement of intent by the NS&I amid persisting cost-of-living pressure which have prevented many from saving.” Savers should remember they cannot withdraw cash from the Guaranteed Growth Bonds and Guaranteed Income Bonds before the end date without incurring a penalty – except in exceptional circumstances.

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