Win some, lose some as NS&I changes rates

Variable rate products will see rates increase, following the early August increase in the Bank of England base rate to 4.75% from 4.5%. However, subsequent falls in gilt yields which are used to benchmarket rates paid by fixed interest products mean these will pay out less money as of today, NS&I says. The new rates are as below: New Tax-free Rates (Fixed and Variable Products)      New issues from 19 August 2004 unless otherwise stated Rate p.a./ AER2 (change ...