National Savings and Investments Direct Isa rate raised

www.moneynews.co.uk > Banking > National Savings and Investments Direct Isa rate raised

National Savings and Investments Direct Isa rate raised

Fri 12th Jan 2007

National Savings and Investments Direct Isa has had its rate raised to 5.8 per cent to coincide with yesterday's Bank of England interest rate hike.

The increase in the base rate was the third since August and has resulted in the benefits being forwarded on to the customers in terms of savings.

Rising from its previous rate of 5.55 per cent, the National Savings and Investments Direct Isa is guaranteed to remain 0.55 per cent above the base rate until April 5th 2008 at the very least.

Launched back in April last year, the National Savings and Investments Direct Isa has a capital guarantee of 100 per cent and up to £3,000 can be invested in the savings account per tax year.

Backed by HM Treasury, National Savings and Investments offers a range of savings options to its customers including the Cash Mini Isa, the Fixed Interest Savings Certificates and also Children's Bonus Bonds, among many others.

In 1999, National Savings and Investments teamed up with Siemens Business Services in a public-private partnership as part of the government's modernisation plans.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'