Announced in the 2016 Autumn Statement, by Philip Hammond, the Chancellor of the Exchequer, and then confirmed in the Budget, this new savings bond is designed to support savers by offering a market leading interest rate, with two million people expected to take advantage.
The new bond from National Savings & Investments is fixed for three years, with an interest rate of 2.20% gross/AER.
The account is available for those aged 16 and over and can be opened online with a minimum of £100, up to a maximum of £3,000. The account is available to open for 12 months from launch.
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