Interactive Investor

NS&I’s motto of ‘Saving. Nothing more’ rings true for millions

24th November 2020 11:30

Rebecca O'Connor from interactive investor

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Provider has reduced interest rates from today, and here's why.

National Savings and Investments has reduced interest rates from today.
 
Becky O’Connor, Head of Pensions and Savings for interactive investor, said: “NS&I’s motto on the website homepage is ‘Saving. Nothing more, nothing less’. The ‘nothing more’ rings especially true following the reduction in interest rates effective from today. NS&I has reduced saving to its basic function as a place to store your money safely. 
 
“Our relationship with savings is fundamentally changing from one where we hope to receive some kind of return to one where we should expect nothing, so we are not disappointed.
 
“There are still good reasons to keep money in cash savings, but not too much if you want it to actually grow in value, rather than be slowly eroded over time.
 
“The days are long gone where you could simply put all your money in a savings account and know that you’ll make something decent as a reward for your effort. 

“For those who want some kind of return above inflation over the long term, investing, even at low risk, should be a consideration.”

These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article. 

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