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Ns & I ....0.01% "interest"


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My index linked savings certificate taken out 5 years ago has just matured and they've offered me a new one with the above "interest". Does this mean the government don't need any more money?

Needless to say it's being taken out.

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It's RPI plus 0.01% isn't it?. RPI is 1.6% so this still beats many cash ISAs.

But no, they don't need your money. The head of NS&I has said they've reached their current target of deposits, set by the government. The government is busy printing its own money, it doesn't need yours!

Edited by RentingForever
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It's RPI plus 0.01% isn't it?. RPI is 1.6% so this still beats many cash ISAs.

But no, they don't need your money. The head of NS&I has said they've reached their current target of deposits, set by the government. The government is busy printing its own money, it doesn't need yours!

It's not so much that it doesn't need your money, it wants to direct it into the housing market.

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0.1% - how generous. :rolleyes:

As a member of Norwich and Peterborough Building Society, I was reading the gumpf for their upcoming Annual General Meeting about how savings back mortgage lending. Given their below average rates I'm surprised that they (or any other building society for that matter) still have enough savers to be able to do this. :rolleyes:

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It's RPI plus 0.01% isn't it?. RPI is 1.6% so this still beats many cash ISAs.

But no, they don't need your money. The head of NS&I has said they've reached their current target of deposits, set by the government. The government is busy printing its own money, it doesn't need yours!

Thanks RF. I speed read the bumf and only saw 0.01%. It's still a crap return rate but not quite as utter crap that I originally thought (who am I kidding)

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Cashing my last one in this time; there are much better investments around IMHO and I don't like holding too much cash or equivalent.

Those Icelandic banks weren't miracles after all.

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