National Savings and Investments (NS&I) ups interest rates
Tuesday, 23 Jan 2007 13:53
National Savings and Investments (NS&I) has increased interest rates on many of its variable and fixed-rate savings offers by up to 0.45%.
The Premium Bond prize fund rate will also rise from 3.40% to 3.60%.
The moves follow the Bank of England's decision to increase base rate from 5.00% to 5.25% and some increases in the gilt markets.
"The increase in the Bank of England base rate, coupled with recent rises in the money markets, means that many savings rates are also rising, which is great news for people with money to save or invest," said John Prout, NS&I sales director.
The new interest rates on fixed and variable rate savings products, including income bonds and easy access savings accounts, will come into effect on January 24th 2007.
The NS&I direct ISA has had its rates raised on January 11th 2007, and the Premium Bond changes will take effect on February 1st 2007.