NS&I cancels planned rate cuts
This weekend, Anna Bowes from our sister company, Savings Champion, was live with Paul Lewis on BBC Radio 4 – Money Box.
As NS&I cancels scheduled cuts to some of its accounts, Anna discusses this and the state of the savings market as a whole.
According to NS&I, the changes to the variable rate Income Bonds, Direct Saver, Investment Account and the rate on the Premium Bond prize fund that were announced on 17th February will be cancelled “to ensure savers are supported during the coronavirus pandemic”. Rate cuts to fixed term products were also announced in February – but these will be going ahead as planned.
Listen to the discussion on BBC Money Box or take a look at the article written by our sister company, Savings Champion.
If you have any concerns or questions, feel free to contact us.