Chancellor Philip Hammond has announced a new "market-leading" special-issue NS&I bond designed to support those affected by low interest rates, which will be available from April 2017.
The bond will offer a rate of 2.2% on deposits, over a maximum term of three years, and will be available for purchase for the 12 months after April 2017. It will be open to all aged 16 and over and will be subject to a minimum investment of £100 and a maximum of £3,000. If an investor were to put away the maximum £3,000, they would earn £202.39 in interest after the maximum three-year period. Read more of our Spring Budget 2017 coverage here The move follows a reduction in interest rates announced by NS&I on four of its variable rate products last month, however, with premium bond...
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