National Savings and Investments (NS&I) ups interest rates

Wednesday, 22 November 2006 12:00

National Savings and Investments (NS&I) is upping the interest rates it pays on its variable-rate savings offers by up to 0.25%.

This move follows the Bank of England's decision to raise interest rates from 4.75% to 5.00%.

The Premium Bond prize fund will also increase, offering an effective interest rate of 3.40% tax-free for January 2007. The December rate will rise to 3.55% p.a tax-free - but this includes three extra £1 million jackpot prizes.

Interest rates are rising 0.25% on NS&I's Income Bonds and Interest rates on NS&I Investment Accounts are rising 0.15%, effective from November 22nd 2006.

NS&I's Easy access savings accounts will see interest rates rise 0.1%, while interest on tracker accounts will rise 0.25%.

ISA rates are also set to rise 0.25%, with rates changing on November 9th for the Direct ISA, and on November 22nd on NS&I's Cash Mini ISA.

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