Branch2 Intelligence
NS&I accounts to snap up now - and the duds I'd avoid at all costs: SYLVIA MORRIS
Key takeaway
NS&I targets £15bn from savers this year, likely cutting rates on popular accounts to manage inflows.
- Step 11st-order: NS&I sets £15bn funding target, adjusts savings rates to control inflows.
- Step 22nd-order: Savers switch from NS&I to best-buy accounts at banks and building societies, increasing deposit competition.
- Step 33rd-order: Banks reduce savings rates as NS&I competition abates, compressing SME deposit margins.
Source: This is Money
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