New account launched by National Savings & Investments

After being announced in last year’s budget, the new National Savings & Investments (NS&I) Investment Guaranteed Growth Bond has finally been launched. The bond is a fixed rate product, offering 2.2% gross/AER. The Treasury announced it in November 2016 as a ‘market leading’ savings bond, but whilst it does offer the highest interest rate, it arrives at a time when inflation is high and expected to rise. What exactly is it? Contrary to what the name suggests, the new NS&I bond isn’t an investment product, but a savings bond with no element of ...