National Savings Bonds: Older People

HM Treasury written question – answered on 16th December 2014.

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Photo of Gregory Campbell Gregory Campbell DUP, East Londonderry

To ask Mr Chancellor of the Exchequer, prior to allocating funding for the new savings bond for senior citizens announced in the Autumn Statement, what assessment he made of likely demand for the new bond.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The Government has allocated £10bn of inflows to the new savings Bonds for the 65 and over. They will pay a market leading rate, and there will be an investment limit of £10,000 per bond per person. That allows for one million bonds.

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