National Savings and Investments (NS&I) has today released its latest, and we believe, headline grabbing 1-year Guaranteed Growth Bond Rate of 6.20% pa.
This is a massive 1.20% pa increase from the old rate of 5.0% pa.
Product |
Old Rate |
New Rate 30/8/2023 |
Guaranteed Growth Bonds |
5.00% gross/AER |
6.20% gross/AER |
Guaranteed Income Bonds |
5.00% gross/5.12% AER |
6.03% gross/6.20% AER |
6.20% pa guaranteed for 1 year, backed by the government is a superb, market leading deal.
Comment: What does this tell us?