New National Savings Issue Welcome As Savers Watch the Value of Money Shrink ; Jeremy Gates Shows How to Ensure Your Money Retains Its Spending Power As the Election Looms
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Summary
AS POLITICIANS headed for the hustings this week, they spared a crumb of comfort for savers tired of watching their money shrinking in value in savings accounts.
National Savings & Investments (NS&I) - the Government's personal savings arm holding pounds 98bn for 27 million customers - announced a new issue of index-linked certificates over three and five-year terms, on minimum investments of pounds 100 and a maximum of pounds 15,000 per person per issue.See the full content of this document
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New National Savings Issue Welcome As Savers Watch the Value of Money Shrink ; Jeremy Gates Shows How to Ensure Your Money Retains Its Spending Power As the Election Looms
Issues usually open for between three months and a year.
For basic rate taxpayers, these certificates pay the current inflation rate measured by the Retail Prices Index (RPI) plus 1% on each anniversary. That's an approximate figure because the sum added rises each year, averaging 1% over the period of the investment.At present, RPI is 3.7%, so basic rate taxpayers would enjoy a return close to 4.7% tax free if the same figure applies i...See the full content of this document
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