Savings: NS&I increase interest rates on guaranteed bonds, but are they a good deal?

No quick return for NS&I Index Linked Certificates 150pxNational Savings & Investments (NS&I) savings products have always been popular, especially as all the money saved with them is 100% guaranteed by the Government. The news that the interest rates payable on the NS&I Guaranteed Growth Bonds is about to increase will therefore be welcomed by savers. But how competitive are the new interest rates? Read on as we investigate. What are the new interest rates? From 20th October the interest rates on the NS&I Guaranteed Growth Bonds will be increased, across the board, by ...

Savings: Tie up your savings for 10 years? No thanks, but here’s five alternative options

Pound LandscapeWe all know savers have had it tough over the past few years. Low interest rates, pushed even lower by Government initiatives to help the mortgage market and relatively high inflation, have all combined to make it almost impossible for savers to get a ‘real return’ on their cash. It’s nearly always been the case that savers will get a better rate of interest the longer they are prepared to tie up their savings; a ...

Savings: Is the price to beat inflation worth paying?

iStock_000007329749XSmallEven though inflation has started to fall, the clamour for savings accounts which beat inflation has never been stronger. But whilst it’s important to beat inflation, is this the only thing savers should be taking into consideration when selecting a savings account? Why is it important to beat inflation? Simply put, if your savings don’t grow by an amount equal to inflation, the buying power will be reduced and you will lose money in real terms. To put it another way. If at ...