NS&I flags which Income Bonds savers will not receive any interest payments after rate cut

It meant from November 24, interest rates on NS&I’s variable rate products and some fixed term products were slashed.

Announcing the decision in September, Ian Ackerley, NS&I Chief Executive, said: Reducing interest rates is always a difficult decision.

“In April we cancelled interest rate reductions announced in February and scheduled for 1 May.

“Given successive reductions in the Bank of England base rate in March, and subsequent reductions in interest rates by other providers, several of our products have become ‘best buy’ and we have experienced extremely high demand as a consequence.

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