In today's Autumn Statement, Chancellor Philip Hammond announced the launch of a three-year National Savings and Investment (NS&I) bond with an expected yield of 2.2%.
The bond will be open to those aged 16 and over, available for 12 months from spring 2017, and will have a minimum investment limit of £100 and a maximum investment of £3,000. The government said that although the bond's indicative rate is 2.2%, this may be adjusted to reflect market condition when the product is launched. Hammond said: We can help those who rely on income from modest savings to get by. Low interest rates have helped our economy recover, but they have significantly reduced the interest people can earn on their cash savings. "So we will launch a new, market-leading ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
