Personal Savings: Interest Rates

Treasury written question – answered on 11th June 2020.

Alert me about debates like this

Photo of John Lamont John Lamont Conservative, Berwickshire, Roxburgh and Selkirk

To ask the Chancellor of the Exchequer, what recent comparative assessment he has made of the competitiveness of NS&I and high street bank savings product interest rates.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

NS&I has a core remit to deliver cost-effective financing for government. In effect, customers’ deposits with NS&I are a form of government borrowing, and the rates that NS&I offer impact the cost to government of this borrowing. Rates on NS&I products are kept under review and set in accordance with its operating framework to balance the interests of savers; taxpayers; and the broader financial services sector.

Does this answer the above question?

Yes2 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.