The Chancellor Philip Hammond has announced a new three-year Government-backed investment bond open to everyone aged 16 or over in today's Autumn Statement. The bond will launch in spring 2017.
Provided by NS&I, the newly announced investment bond will pay an expected 2.2% AER interest for three years on a maximum £3,000 saving, meaning savers will be able to earn a maximum of £66 interest a year from the bond. For full info on how it works, see our brand-new NS&I Investment Bond guide.
The current top-paying three-year bond is 1.62% AER from Tesco Bank, meaning the 2.2% bond would be market-leading if it were launched today.
Autumn Statement 2016: Other key stories
- Salary sacrifice perks cut back
- Insurance premiums likely to rise for millions after tax hike
- National living wage will rise to £7.50
- Letting agents banned from charging tenants upfront fees
- Universal credit cuts scaled back
- Fuel duty frozen for seventh consecutive year
- Pensions freedoms loophole tightened
- Tax-free childcare on track for launch early next year
1.jpg.rendition.320.320.jpg)
Have your say
This is an open discussion but the comments do not represent the views of MSE. We want everyone to enjoy using our site but spam, bullying and offensive comments will not be tolerated. Posts may be deleted and repeat offenders blocked at our discretion. Please contact fbteam@moneysavingexpert.com if you wish to report any comments.