The return of one of the best savings accounts of recent years
It's a great day for savers - NS&I has relaunched its five-year, index-linked savings certificates. You can invest up to £15,000, you get an interest rate guaranteed to beat inflation, and you won’t have to pay tax on the interest.
It's a great day for savers - one of the best savings accounts of recent years is back. National Savings & Investments (NS&I) has relaunched its five-year index-linked savings certificates. These accounts were taken off the market last year due to them becoming oversubscribed, but now they are back. So once again savers can invest up to £15,000 which will then grow at a rate above inflation, tax-free.
These accounts pay savers an interest rate linked to the Retail Price Index (which measures inflation) plus 0.5%. The best bit is that any interest you earn is free from income tax. It's a five-year bond, but you can withdraw your money early - although if you withdraw it within the first year you will not receive any interest.
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