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Media centre /
Press releaseCHANGE TO NS&I’S DIRECT ISA GUARANTEE27 February 2008
NS&I (National Savings and Investments) is to continue to offer a guarantee on its popular Direct ISA. From 6 April 2008 the Direct ISA will pay interest at 0.30% above the Bank of England base rate, offering an attractive rate of 5.55%1 per annum. NS&I will be writing to all existing customers of its Direct ISA this week to inform them of the change to the guarantee. Following the change to ISA rules, customers of NS&I’s Direct ISA and its Cash ISA (available via post, telephone and through the Post Office) will be able to invest up to £3,600 each tax year. Customers of the Direct ISA can make deposits, carry out balance checks, look at their transaction history and make withdrawals online 24 hours a day and by phone between 7 a.m. and midnight, seven days a week. 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
NS&I sales director, John Prout, said: “A cash ISA should be the first port of call for savers wanting to shelter their savings from tax.“ “We know that over the past two years our customers have valued the Direct ISA’s guarantee that the return on any investment will beat the Bank of England base rate, and this is why we have extended the guarantee." ENDS Notes to editors 1. Assuming no change to the Bank of England base rate
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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