The Budget / Briefly: First Option Bond is back

The First Option Bond aimed at basic rate taxpayers is being reintroduced after an absence of over four months. The new bond will pay 6.34 per cent gross, 4.75 per cent net.

The limits on the amount of National Savings products that can be held has been doubled for most products. The limit on savings certificates rises from pounds 5,000 to pounds 10,000, and on reinvestment certificates from pounds 10,000 to pounds 20,000. Premium Bond limits rise from pounds 10,000 to pounds 20,000.