Overview
- Both easy-access accounts will pay 3.05% from 12 February, marking their first rate change since 5 March 2025.
- The Premium Bonds prize fund rate remains at 3.6% in this announcement, though analysts caution it could be reduced if easy-access rates fall more widely.
- NS&I recently lowered rates on new issues of its fixed-rate bonds, reflecting a wider pullback after the Bank of England base rate dropped to 3.75%.
- Some online banks continue to offer easy-access deals above 4%, presenting higher returns than NS&I’s cut rates but without its full HM Treasury guarantee.
- NS&I applies the same variable rate to all account holders, so existing and new customers will receive the new 3.05% rate.