National Savings & Investments has topped the best-buy tables after it increased interest rates on its savings accounts to more than 6 per cent to hit fundraising targets for the year.
The Treasury-backed bank increased the fixed rate on its one-year guaranteed growth bond to 6.2 per cent, while the rate on its one-year guaranteed income bond was raised to 6.03 per cent – the highest rates since NS&I launched the bonds in 2008. Both rates had previously been priced at 5 per cent and are available to both new and existing customers, who must lock away a minimum of £500 for one year.
The rates are the most competitive one-year fixed rate savings accounts on the market, in a move by the bank to
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