Martin Lewis issues ‘devastating’ warning to millions of people across the UK with a savings account
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dailyrecord.co.ukMartin Lewis has issued a warning to millions of savers across the UK. The money-saving expert took to social media after National Savings & Investments (NS&I) announced plans to slash the interest it pays on many of its savings accounts - including Income Bonds, Direct Saver and Premium Bonds prize funds.
The Treasury-backed provider, which has 25 million customers, said the rate reductions will mean it aligns its savings products against the rates offered by the banks and building societies.
It has seen high customer demand as its products have climbed up the "best buy" tables in recent months, at a time when the returns on offer generally from banks and building societies have been dwindling in the low interest rate environment.NS&I said.
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