NS&I ups rates on three products after BoE rise

Direct ISA to rise by 25 basis points

Ayesha Venkataraman
clock • 2 min read

State-owned savings bank NS&I will raise its rates on December 29 in a bid to hit its net financing target for 2021/22, which is £6bn (plus or minus £3bn).

National Savings & Investments (NS&I) revealed it will increase rates on its Direct Saver and Income Bonds by 20 basis points from 0.15% to 0.35%, as well as a 25-point bump on its Direct ISA rate, taking it from 0.1% to 0.35%. This in addition to boosting its Income Bonds rate from 0.01% to 0.15% last month. The rate rises follow the Bank of England's decision last week to raise rates to 0.25%, surprising markets in the process. The central bank said the economic conditions it had been waiting for to raise rates had been met, noting that "the labour market is tight and has continued to ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Deputy PM Rayner remains in post after £40k stamp duty error based on tax advice

Deputy PM Rayner remains in post after £40k stamp duty error based on tax advice

Deputy PM refers herself to ministerial standards adviser amid ongoing scrutiny

Sahar Nazir
clock 04 September 2025 • 2 min read
'There are sharks out there': V11 footballer plight highlights professional athlete financial vulnerability

'There are sharks out there': V11 footballer plight highlights professional athlete financial vulnerability

‘Sadly, in every industry there is good and bad'

Jenna Brown
clock 03 September 2025 • 8 min read
Clifton Wealth Partnership completes two acquisitions adding £146m AUM

Clifton Wealth Partnership completes two acquisitions adding £146m AUM

Advisory practices in Bristol and Yorkshire join CWP

Jenna Brown
clock 03 September 2025 • 2 min read