Deposit limit on NS&I's guaranteed growth bonds cut

Savers with larger deposits will be unhappy that NS&I has slashed the ceiling on its deposits.

The change relates to NS&I’s one- and three-year guaranteed growth and income bonds. Previously, savers were able to deposit up to £1 million with these products. Now however, NS&I have slashed this limit to just £10,000. This is effective immediately.

Premium bond prize rate slashed

National Savings & Investments (NS&I) is to cut the premium bond prize fund rate from 1.5 per cent to 1.3 per cent from 1 August 2013, meaning it will be harder to win a monthly prize.