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Sep 1, 2006
National Savings
and Investments (NS&I) has implemented an increase in the interest rate on
most of its variable rate savings offers following the recent increase in the
Bank of England base rate.
Rates on all
NS&I variable rate products have been increased from 4.50% to 4.75%. The
hike covers Direct ISA 3, Premium Bonds, Ordinary Account and General Extension
Rate. In addition, NS&I says the Premium Bond prize fund rate have also
increased from 2.95% p.a. to 3.15% p.a. tax-free3, equivalent to 5.25% p.a. for
a higher rate taxpayer and 3.93% p.a. for a basic rate taxpayer.
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