HC Deb 19 March 1968 vol 761 cc271-2

I am also introducing a new British Savings Bond. This will replace the present National Development Bond from 1st April. British Savings Bonds will carry a rate of interest of 6 per cent., with a £2 per cent. tax-free bonus if the Bonds are held for their full life of five years. Like the Development Bond, they will be sold in units of £5 and can be cashed at one month's notice. They will be on sale at all Post Offices, Trustee Savings Banks and Joint Stock Banks. Any one person will be able to buy up to £10,000 of the Bonds. Holders of maturing issues of Defence and Development Bonds will be offered conversion into the new 6 per cent. British Savings Bond.