National Savings and Investments: Interest Rates
(asked on 26th June 2023) - View Source
Question to the HM Treasury:
To ask His Majesty's Government what plans they have, if any, to increase interest rates on National Savings & Investments accounts.
This question was answered on 6th July 2023
NS&I’s core purpose is to raise cost effective financing for the Government and must balance the interests of savers, taxpayers and the wider market when setting interest rates. On 30th June, NS&I announced increases to the rates on Direct Saver and Income Bonds to 3.40% and Premium Bonds to 4.00%, the highest rate since 2007.
NS&I continues to keep all interest rates under review.