NS&I cuts rates to reflect low interest environment

Rates on NS&I's income bonds and Direct ISA will be 1.25% and 1.75% respectively, both reductions of 0.5%. The rate on its Direct Saver will be 1.1%, a cut of 0.4%. All changes will come into effect from 12 September this year. NS&I said the changes reflect the lower interest rates now available elsewhere following its regular review of the savings market. Chief executive Jane Platt said: "Rates across the savings market have fallen over recent months and, to ensure we continue to strike a balance between the needs of our savers, taxpayers and the stability of the broader financial se...