Millions of savers with NS&I have been dealt a blow after it announced it would slash interest rates in November and cut the Premium Bonds prize fund a month later.
Genuinely astonishing for nsandihelp to pretend that a 99% reduction in interest rates is 'market conditions'. Clearly govt looking to close them down by forcing us all to leave.
Income Bonds where I have my money is to be reduced to Nothing effectively. Another slap in the face by this useless nasty government to the British Government. My advice is for everyone to remove their money and see how they like that
Fk this. Banks give O incentive to save. Wonga interest rates on credit cards and loans. WE'RE cash cows. Fk em. Use cash for everything. Don't let them use your money. Take it out each month. Shop local. Ignore tax dodging corps.
This is bad news - I swopped my daughter's junior ISA to NS&I last week because it was offering a much better rate of interest than Halifax. Hopefully I can cancel as it's not yet gone through.