National Savings and Investments to reduce rates

Story link: National Savings and Investments to reduce rates

Savers will be hit hard, again, by the latest news from National Savings and Investments (NS&I), who have announced that they will be chopping a full 1.35 percent from the current savings rates.

There now seems like little or no point for savers to be storing their cash in banks, with little or no return on their investment!

National Savings and Investments to reduce rates

National Savings and Investments (NS&I) has announced that it will reduce the rates of interest it offers on its fixed-rate savings accounts by up to 1.35 per cent.

The savings account provider blamed the reductions on the fall in value of gilt-edged government bonds, which are known as gilts for short.