National Savings & Investments (NS&I) has introduced new Guaranteed Growth Bonds, offering interest rates ranging from 4.99% to 5.17%. The specific rate an individual receives depends on the term length they choose to commit their funds.
These bonds are available for those willing to tie up their money for a set period. The highest rate of 5.17% is available for longer-term commitments, while shorter terms yield slightly lower rates, starting at 4.99%.
NS&I is a state-owned savings bank that offers a range of savings and investment products. It is backed by the UK Treasury, meaning all the money invested is safe. The introduction of these new bonds comes as the savings market sees fluctuations in interest rates.