Oh great. What an awful name for the product.

Investment bonds are life assurance investment products that can be held in an offshore arrangement on onshore. It is a risk based investment product.

So, when the NS&I and Treasury were sitting there thinking what name they should use for this fixed term deposit and thinking what would stand out and avoid confusion, they came up with a name that is already used for a risk based investment product.

I agree Dunstonh they don't half result in confusion from people looking for a safe (or unsafe but potentially rewarding) home for their money!

A safe home for cash at a rate currently above the long term CPI target seems ok to me, especially with no announced restrictions on who can access it (i.e. Not just the over 65s or the under 40s).

The fact that it's £3k rather than £10k or more, means that folks can't moan that only the people who already have large amounts of cash will be able to take best advantage.

So, a rather inoffensive - if unspectacular - piece of help, once you get past the silly naming.

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