THE National Treasury Management Agency has announced a new issue of savings certificates and savings bonds which will go on sale from next Tuesday. The current issue of certificates and bonds has been withdrawn from the close of business yesterday.

According to the NTMA, the new savings certificates offer a guaranteed return of 30 per cent tax free over a period of five years and six months, representing an average interest rate of 4.89 per cent per annum.

The new savings bonds offer a 14 per cent guaranteed tax-free return over three years, representing an average interest rate of 4.46 per annum.

Investors can put a maximum of £60,000 into the new issue, with joint accounts subject to a maximum of £120,000. The minimum investment is £50.