{"id":533833,"date":"2021-03-12T08:00:01","date_gmt":"2021-03-12T08:00:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=533833"},"modified":"2021-03-12T08:00:01","modified_gmt":"2021-03-12T08:00:01","slug":"after-topping-best-buy-rankings-nsi-to-slash-savings-account-rates-and-premium-bond-prizes","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/after-topping-best-buy-rankings-nsi-to-slash-savings-account-rates-and-premium-bond-prizes_533833.html","title":{"rendered":"After Topping Best Buy Rankings, NS&I to Slash Savings Account Rates and Premium Bond Prizes"},"content":{"rendered":"

On the 20th of September 2020 National Savings & Investments (NS&I) will dramatically cut the interest it pays on many of its savings accounts in November, slashing its top easy-access rate to just 0.01%. And Premium Bond holders will also have a much lower chance of winning a prize from December, with the prize rate to be cut to 1%.<\/span><\/p>\n

The surprise announcement is a huge blow to savers, many of whom have turned to NS&I as savings rates have plunged during the pandemic. NS&I’s Income Bonds, which currently pay 1.16% AER, have often topped our easy-access savings best buys in recent months, while in June we reported that savings in Premium Bonds had hit a 14-year record. <\/span><\/p>\n

NS&I had planned to cut the Premium Bonds prize rate to 1.3% earlier this year, but it cancelled the reduction – as well as planned cuts to its variable savings products – to support savers during the pandemic. <\/span><\/p>\n

However, the upcoming cuts go much further than the reductions planned for earlier this year, with NS&I saying the new rates will be more in line with those offered by other banks and building societies.<\/span><\/p>\n

For more on how to get the best interest rate for your savings, including our current top picks, and for full help on Premium Bonds – including how they work and whether they’re worth it – contact an EMC for more information.<\/span><\/p>\n

For more information, please visit: <\/span>www.emc-am.com<\/span><\/a>  <\/span><\/span><\/p>\n

Media Contact<\/span>
Company Name:<\/strong> EMC Asset Management<\/a>
Contact Person:<\/strong> Joshua Gresson (Public Relations)
Email:<\/strong> Send Email<\/a>
Country:<\/strong> United States
Website:<\/strong> www.emc-am.com<\/a><\/p>\n

<\/object>\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

On the 20th of September 2020 National Savings & Investments (NS&I) will dramatically cut the interest it pays on many of its savings accounts in November, slashing its top easy-access rate to just 0.01%. And Premium Bond holders will also … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,425,426,404],"tags":[],"class_list":["post-533833","post","type-post","status-publish","format-standard","hentry","category-Business","category-Finance","category-Financial-Market","category-US"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/533833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=533833"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/533833\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=533833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=533833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=533833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}