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National Savings Cuts Rates
Milarky
Posts: 6,356 Forumite
Following the rise in the Bank of England Rate earlier this month, National Savings has cut at least one of its interest rates - 28th Issue Fixed Savings Certificates (tax free)
Not sure when this occurred exactly, but sometime since 17th, as press relases from NS&I only go up to that date, and the current offering is not mentioned there
?? Aug : 28th Issue, 2yr - 3.35%
20 June : 27th Issue, 2yr - 3.50%
20 May : 26th Issue, 2yr - 3.25%
22 April : 25th Issue, 2yr - 3.05%
[The fact that the 'post office' has cut rates at this time could be for any reason:eg they have no need to borrow any more, or interest have 'peaked' or are about to 'peak']
Yes, they weren't competitive - other than by virtue of being tax-free - but it shows that they aren't 'competitive' in another sense also - they can offer these as well as ISAs, whereas the banks/building societies can't [shame] :o
Not sure when this occurred exactly, but sometime since 17th, as press relases from NS&I only go up to that date, and the current offering is not mentioned there
?? Aug : 28th Issue, 2yr - 3.35%
20 June : 27th Issue, 2yr - 3.50%
20 May : 26th Issue, 2yr - 3.25%
22 April : 25th Issue, 2yr - 3.05%
[The fact that the 'post office' has cut rates at this time could be for any reason:eg they have no need to borrow any more, or interest have 'peaked' or are about to 'peak']
Yes, they weren't competitive - other than by virtue of being tax-free - but it shows that they aren't 'competitive' in another sense also - they can offer these as well as ISAs, whereas the banks/building societies can't [shame] :o
.....under construction.... COVID is a [discontinued] scam
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