National Savings & Investment (NS&I) raised an extra billion pounds in Q1, driven by high demand for its inflation busting index-linked savings certificates.
NS&I reported gross inflows of £6.5bn between April and June, up from £5.5bn during the same period in 2010. This helped it deliver £3.8bn of net financing, up from £2.5bn in Q1 2010. However NS&I's share of the total savings deposit market was down from 7.99% in May 2010 to 7.83 at the end of May this year. NS&I reintroduced its inflation beating certificates in May after the Chancellor confirmed in in the Budget its net financing target would be £2bn higher this year. The bonds have been popular among savers who can invest up to £15,000 tax free in a five-year bond with an intere...
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