NS&I, the government-backed savings body, has pulled its market-leading 6.2% guaranteed bonds after a rush of savers.

NS&I said today that more than 200,000 customers bought Issue 72 of its one year Guaranteed Growth Bonds and one year Guaranteed Income Bonds.

The bonds were launched on 30 August and offered 6.20% gross/AER and 6.03% gross/6.20% AER respectively fixed for one year.

The rates attracted national headlines and saw a scramble of rivals to push up their bond rates.

The rates were the highest ever offered on fixed rate bonds.

The bonds were withdrawn from sale yesterday (5 October).

NS&I said that withdrawing the bonds would help it stay on track to meet its net financing target for 2023-24 by preventing a flood of money being deposited.

NS&I chief executive Dax Harkins said: “This summer’s new one-year fixed-rate bonds have been a great success. I am pleased we were able to keep them on sale for over five weeks, enabling more than 225,000 savers to benefit from the highest interest rates we have ever offered on these products.”

The bonds were available to purchase until Thursday 5 October and NS&I stopped taking new sales today (Friday 6 October). Postal applications received for a reasonable period will be honoured, NS&I said.

On maturity, bondholders can withdraw their cash or reinvest for another term of the same length.