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National Savings and Investments (NS&I), formerly called the Post Office Savings Bank and National Savings, is a state-owned savings bank in the United Kingdom. It is both a non-ministerial government department [ 2 ] and an executive agency of HM Treasury . [ 3 ]
Index-linked Savings Certificates are British inflation linked bonds from National Savings and Investments, the state-owned savings bank in the United Kingdom. The bond terms are typically 2, 3 or 5 years. The returns are linked to Retail Price Index (RPI) with a tiny added interest rate on top. The Bonds can no only be cashed in at maturity.
Post Office Savings Bank became National Savings Bank in 1969, later renamed National Savings and Investments (NS&I), an agency of HM Treasury. While continuing to offer National Savings services, the (then) General Post Office, created the National Giro in 1968 (privatized as Girobank and acquired by Alliance & Leicester in 1989).
A new issue of the NS&I bonds has been launched paying 1.30% interest, after a previous issue launched last year offered savers 0.65%.
Counterfeit savings bonds have been on the rise in recent months, and nationwide losses because of the scam have so far amounted to $50 million, according to the Oklahoma Bankers Association (OBA)....
Money invested in the bonds will help to finance green projects, such as preventing pollution and using energy more efficiently, NS&I said. NS&I launches new issue of its Green Savings Bonds ...
In December 2008, NS&I reduced the interest rate (and therefore the odds of winning) due to the drop in the Bank of England base rate during the Great Recession, leading to criticism from members of Parliament, financial experts and holders of bonds; many claimed Premium Bonds were now "worthless", and somebody with £30,000 invested and ...
Continue reading → The post Are High-Yield Savings Accounts Safe? appeared first on SmartAsset Blog. There are two questions about safety when it comes to opening a high-yield savings account ...