NS&I Cuts to Savings Accounts
Savings Champion’s, Anna Bowes, recently sat down with Paul Lewis to discuss the latest National Savings and Investments (NS&I) cuts to savings accounts on BBC Radio 4 Moneybox.
All accounts except the Direct Cash ISA, Junior ISA and Index Linked Certificates will be cut by up to 0.45% from 1st May 2020. Anna discussed that even though these cuts are significant, they are still more favourable than the large high street banks where some offer as little as 0.10% return on savings.
To hear Anna’s thoughts and explanation on the reduction in savings rates, click here to listen to the full 30-minute podcast on BBC Radio 4.