An inflation-proof home for your savings

NS&I's inflation-beating savings certificates proved so popular last year that they had to be pulled to prevent them totally dominating the savings market.

Savers worried about soaring inflation were thrown a lifeline last week with the return to the market of National Savings & Investments' (NS&I) inflation-linked savings certificates. This inflation-beating product proved so popular last year that it had to be pulled in order to prevent the government-run NS&I from totally dominating the savings market. We've been waiting for them to return. And now they have.

The new NS&I index-linked savings certificates offer an interest rate that is linked to the Retail Prices Index (RPI): you are paid the change in RPI plus 0.5% annually as long as you leave your money for five years. Only 0.5% above RPI might sound a little measly on old NS&I products it was 1% and there are products on the high street that offer a larger percentage above RPI.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.