National Savings and Investments
 
Media centre /

Press release

NS&I DIRECT ISA INTEREST RATE LOWERS TO 5.80% FOLLOWING DECREASE IN BANK OF ENGLAND BASE RATE

07 February 2008

 

  • New rate effective immediately

The interest rate paid on NS&I’s Direct ISA will decrease from 6.05% per annum to 5.80% following today’s decrease in the Bank of England base rate by 0.25%.

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

NS&I’s Direct ISA 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.

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 5 April 2008
  • 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. 

Ends

Notes to editors

1. NS&I’s telephone lines are open from 7am until midnight, seven days a week.

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
Claire Gorman 020 7348 9654
claire.gorman@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
 

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