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NS&I said the change aligns the interest rate for Income Bonds with the interest rate for NS&I's Direct Saver account. The Government-backed savings provider said the decision
for the increase is in line with NS&I’s operating framework to balance the interests of savers, taxpayers and the broader financial services sector. However, some have pointed out this
new rate is a far cry from the most competitive easy access accounts right now, which currently offer 0.67 percent. Sarah Coles, senior personal finance analyst, Hargreaves Lansdown, said:
“NS&I Income Bonds left a nasty taste in the mouth for an awful lot of savers last year. "They went from offering the best rate by a country mile, to being among the worst.
"Now the rate has been boosted a little, but for a typical saver, it’s not enough to make them flavour of the month again." Ms Coles added: "At 0.15 percent it’s still way
below the most competitive easy access account, offering 0.67 percent, so it is relying on the things that make NS&I special to draw the extra cash in. READ MORE: BRITONS GET LESS THAN
£100 A WEEK AS STATE PENSION TRIPLE LOCK MAY BE 'SCRAPPED FOR GOOD'