Tag Archives: NS&I

Savings rate rises have ‘started to slow’ as savers take millions out of NS&I – what to do

“There’s also a reasonable chance that at some stage someone will decide to nudge the rate up slightly to stand out.

“Mortgage lending is also still strong, which is helping to underpin the savings market. Net mortgage volumes were at £6.6billion in May, while approvals for house purchases remained elevated at 87,500.

“But competition in the mortgage market has pushed rates to record lows, which will put savings rates under pressure.

“Savings rate rises have started to slow, which is a useful reminder that there are no guarantees they’ll keep creeping up indefinitely. If you’re planning to switch, the key is to find the best possible rate in the market right now, rather than hanging on in the hope of finding rates that might not be on the cards for years.”

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This post originally posted here Daily Express :: Finance Feed

NS&I announces U-turn following plans to change Premium Bonds prize cheques system

However, NS&I has currently restored call waiting times to normal levels and cleared outstanding complaints, the savings provider confirmed.

NS&I Chief Executive, Ian Ackerley, said: “In a hugely challenging year, I regret the impact of operational issues on our customers, and apologise that they did not receive the levels of service that they have come to expect from NS&I.

“We are in a better position now, despite the ongoing pandemic, but there is more to do in the months ahead.

“Despite the challenges faced, I am proud of what we have achieved in an exceptional 12 months.

“We have delivered unprecedented levels of financing for Government and served millions of savers, as well as evolving our operation so that we can learn from this year and build a stronger and more resilient business that continues to attract the loyalty of millions of savers.”

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This post originally appeared on Daily Express :: Finance Feed

How to buy Premium Bonds: NS&I offers four ways to purchase the savings option

Nowadays there are a range of ways to buy Premium Bonds. Whichever way they are purchased though, each investment must be at least £25.

The odds of winning currently stand at 34,500 to one.

So, how can one buy Premium Bonds?

NS&I explains one way to do this is by buying them online via the NS&I website.

“You can buy Premium Bonds online using our secure online system,” the government-backed savings provider said.

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“Please have your debit card details at the ready.”

It’s also possible to buy them from NS&I via telephone.

Again, customers are asked to have their debit card details to hand for this.

There is one caveat – if a person is buying Bonds for someone else’s child, they can’t be bought by phone.

Another option is to buy them via post.

To do so, the relevant application form must be filled out and sent to NS&I.

This must be along with a cheque that is payable to NS&I.

Another option for those who already have Premium Bonds is to make a bank transfer or standing order.

“If you or a child you’re buying for already have some Premium Bonds, you can buy via bank transfer (including standing order),” NS&I explains.

There is a guide available on this option, and it is important to read this first.

It is possible for any adult to buy Premium Bonds for children who are under the age of 16.

However until the child’s 16th birthday, the parent or guardian named on the application looks after the Bonds, and this is regardless of who bought them.

Parents or legal guardians can buy Bonds for their child online, by phone or by post.

When buying for someone else’s child, the options are limited to applying online or by post.

Those in this situation must make sure the parent or guardian is happy to look after the investment for their child, and agrees to their details being given to NS&I.

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This post originally appeared on Daily Express :: Finance Feed