NS&I Reduces Interest Rates on British Savings Bonds

The Treasury-backed provider adjusts rates to reflect changes in the savings market, impacting returns for investors.

Interest rates on two, three, and five-year British Savings Bonds have been cut by up to 0.35 percentage points.
The new rates for two, three, and five-year bonds are 4.25%, 4.00%, and 3.90% respectively.
NS&I states the rate cuts balance the interests of savers, taxpayers, and the financial sector.
Changes come after a recent 0.25 percentage point cut in the Bank of England base rate, now at 5%.
Critics highlight that better rates are available elsewhere, questioning the timing of the cuts.