NS&I cancel some of their planned interest rate cuts

jem16

NS&I have announced that they are cancelling the planned interest rate cuts on some of their products. Their Direct Saver, Income Bonds, Investment Account and Premium Bonds won't have their interest rate cut.

https://nsandi-corporate.com/news-research/news/nsi-supports-savers-unprecedented-time

quirkydeptless

At last,  a glimmer of good news in the darkness

Premium bonds are looking attractive now

brewerdave

Looks like I'll be buying some more PBs when the Santander 123 rate drops next month!

Elderone

That's really good news for many who have money in their different accounts and premium bonds. I hope that they decide to keep the rates reasonable for a good amount of time to save people bailing out.

Alistair31

Looks like they need our money after all

intalex

Nice gesture against all odds!

MrMorgan

woohoo, great news - thanks for sharing 

Thrugelmir

Alistair31 said:

Looks like they need our money after all

We all need the money. 

Albermarle

Premium bonds are looking attractive now

Yes, other posters today have noted Marcus and Ford easy access savings accounts , dropping below the 1.4% for PB's ( although there is a valid argument that the real situation with PB's is more like 1.25% + an infinitesimal chance of winning a Million Pounds )

george4064

From their main site;

To support savers at this difficult time, we are not going ahead with the variable interest rate reductions that we previously announced. So our Premium Bonds, Direct Saver, Income Bonds and Investment Account will stay at their current rates. If you have any of these accounts, you don't need to do anything.

Alexland

Maybe the treasury have told NS&I to raise more money to support the virus bailouts..