National Savings and Investments
 
Media centre /

Press release

NS&I DIRECT ISA INTEREST RATE RISES TO 6.30% FOLLOWING INCREASE IN BANK OF ENGLAND BASE RATE

05 July 2007


  • New rate effective immediately

The interest rate paid on NS&I’s Direct ISA will rise from 6.05% per annum to 6.30% following today’s increase in the Bank of England base rate by 0.25%.

The new higher rate becomes effective from today and is guaranteed to be at least 0.55% above base rate until 5 April 2008 at the earliest.

NS&I’s Direct ISA was launched over a year ago, on 6 April 2006, and is available online and by telephone only. Customers can invest up to £3,000 each tax year and have direct access to their account 24 hours a day.

And the Direct ISA comes with the 100% capital guarantee which NS&I can offer because all of its savings and investments are backed by HM Treasury. 

Direct ISA key features

  • Invest online and by phone only with a debit card
  • Interest rate guaranteed to be 0.55% above base rate until at least 5 April 2008
  • Consistent interest rate: no short-term introductory bonus
  • Convenience of opening and managing account online and by phone
  • Minimum deposit: £1,000
  • Minimum further deposit: £250 (or £100 by standing order)
  • Minimum withdrawal: £250 to nominated bank account
  • All interest free of UK income tax
  • Direct ISA is open to new customers and those who had opened an NS&I Cash mini ISA by 5 April 2006, but it is not be possible to transfer into NS&I’s Direct ISA from any other ISA provider. 

NS&I will announce any other interest rate changes in due course.

Media team
NS&I has a number of spokespeople available for interviews and our experienced radio team is available via our ISDN line: 020 7602 4522.

The numbers below are for media use only. Customers wishing to contact NS&I can find details here.

Gill Stephens 020 7348 9449
gill.stephens@nsandi.com
Iman Asante 020 7348 9301
iman.asante@nsandi.com
Angela Mason 020 7348 9433
angela.mason@nsandi.com

ISDN for interviews
020 7602 4522

Out of hours
All numbers above diverted to staffed mobile phones
 

Back to top

 Home    Print    Email to a friend  

Search
HM Treasury
Privacy and security | Site conditions and legal | Sitemap
National Savings and Investments is backed by HM Treasury

By using this website, which is intended for residents of the UK, Channel Islands and Isle of Man only, you will be deemed to have confirmed that you are so resident.