Amongst the Chancellor’s announcements at the Autumn Statement last month was the news that National Savings and Investments (NS&I) will next year launch a new savings bond, with an indicative rate of 2.2 per cent per annum.
The new bonds, known as Investment Guaranteed Growth Bonds, will allow a maximum £3,000 investment over three years and will be available to anyone age 16 or over.
While the total possible return may be relatively small, Investment Guaranteed Growth Bonds may help increase the overall return on your savings and investment portfolio and the indicative rate is higher than the current best return for a three-year bond of 1.62 per cent.
Investment Guaranteed Growth Bonds may also be useful in encouraging younger people to get into the habit investing in bonds as they are open to people from the age of 16.
To discuss whether Investment Guaranteed Growth Bonds may be a worthwhile addition to your investment and savings portfolio, please contact us.