NS&I increases rates

Not all NS&I products will pass on the full increase, and not all rates will change at the same time. Variable rate products such as Income Bonds, will see their rates changed on 22 November - except the Direct Isa, which hiked its rate on 9 November. Premium Bonds will pay an increased fund rate of 3.40% from 3.15% - tax free - for the January 2007 payout. The December rate will peak at 3.55%, but this is because the agency is paying out an additional three £1m jackpot prizes to celebrate the organisation's 50th anniversary. Odds of winning a prize remain at 24,000:1. New v...