National Savings and Investments Raises Bond Rates Above 5%

National Savings and Investments increased interest rates on its British savings bonds, with several products now paying over 5% for the first time in nearly three years. New rates for growth bonds range from 4.99% for one-year terms to 5.17% for five-year terms.

As a Treasury-backed provider, the organization secures 100% of savings up to £1 million per person per bond issue. This differs from most banks, which typically guarantee savings only up to £120,000.

Other financial institutions also adjusted their offerings. Starling Bank introduced a 5% interest rate on its Easy Saver account for new current account holders, and Marcus by Goldman Sachs raised its one-year fixed-rate account from 4.3% to 4.75%. While the new NS&I rates are competitive, higher yields remain available through providers such as GB Bank and Union Bank of India (UK).