NS&I's inflation beating savings 'provide security'

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NS&I's inflation beating savings 'provide security'

National Savings and Investments (NS&I) claims that its range of inflation beating products can offer savers security in a financial climate where little is certain.

The government-backed savings account provider explained that these products are lump sum investments, which are held for either three or five years.

Investors receive payments at a fixed rate on top of the current rate of inflation, which NS&I calculates using the retail price index (RPI). Currently, NS&I is offering RPI plus one per cent for both the five-year product and the three year product.

Peter Cornish, director of customer offer at NS&I said that these products "offer savers the certainty of knowing that their original investment will always be protected from inflation, and will not lose value as a result of deflation".

Yesterday, the Office of National Statistics published figures which show that the RPI has not risen over the last 12 months.

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