Blow to best buy savings: NS&I cut their interest rates

National Savings & Investments (NS&I) has been forced to cut the interest rate on one of its most popular account after concerns were raised that it might breach its financing target. In a bid to maintain competition and fairness in the savings market, the Treasury set a net financing target for the amount of money NS&I can take in. For the year 2011/12 the target is £4 billion, however the latest forecast, released today, shows NS&I are likely to breach this figure by around £500 million. Security Over the past few years savers have flocked to NS&I as they look for a safe ...