NS&I extends ISA guarantee
Wednesday, 27 Feb 2008 00:13
National Savings and Investments (NS&I) is extending its Direct ISA guarantee so it will pay 0.3 per cent over the Bank of England until April 5th 2009.
The offer will run from the next tax year - April 6th 2008 - putting the current ISA rate at 5.55 per cent.
All existing Direct ISA customers will be told of the change in the coming week.
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."
The Direct ISA can be opened online or by phone with a minimum deposit of £1,000.