National Savings
NS&I RATE CHANGE FOR RESIDUAL ACCOUNT
RATE CHANGE FOR RESIDUAL ACCOUNT
NS&I has today, 18 November 2021, decreased the interest rate on the Residual Account.
The Residual Account is an account that NS&I uses to hold dormant money. Where we have closed an NS&I account or investment and have not been able to get in contact with a customer to return the money, we will transfer the money to our Residual Account for safekeeping until the customer contacts us.
Rate change
| NS&I account | Previous rate | New rate |
| Residual Account | 0.03% gross/AER | 0.01% gross/AER |
Find out more at nsandi.com
Definitions
Gross is the taxable rate of interest without the deduction of UK Income Tax.
AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same.
National Savings and Investments is backed by HM Treasury.