The government-backed provider says the change is to align the interest rate for Income Bonds with the interest rate paid on its Direct Saver account.
The change is the only one made to rates by NS&I today and will apply from today (18 November)
The organisation said: “The decision to increase the interest rate on Income Bonds is in line with NS&I’s operating framework to balance the interests of savers, taxpayers and the broader financial services sector.”
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