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Article: Why government bonds may be the best bet for your savings
- Article from:
- Belfast Telegraph
- Article date:
- November 9, 2009
CopyrightCopyright 2009 Belfast Telegraph. Provided by ProQuest LLC. (Hide copyright information)
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IT IS a graphic illustration of how dire the national finances
are that one of the most competitive savings products in the UK at
the moment is offered by the Government.
Normally the security of a Government-backed scheme means that it
does not need to match commercial rates: but these are not normal
times.
National Savings & Investments has just issued new Guaranteed
Growth Bonds and Guaranteed Income Bonds, offering rates of up to
4.60%. In a market where many savings products are paying less than
2% and instant access accounts may pay 0.10% or less, the
Government's savings products are difficult to beat.
John Prout, director of customer sales and retention for NS&I,
explains: ...