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

  • 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.



Already a Professional Adviser member?


More on Your profession

PA Working Lunches: Last chance to reserve a spot with Baillie Gifford!

PA Working Lunches: Last chance to reserve a spot with Baillie Gifford!

Advisers invited to join an informative lunch session worth one hour of CPD

Professional Adviser
clock 05 December 2022 • 1 min read
Perspective acquires East Sussex-based advice firm

Perspective acquires East Sussex-based advice firm

Deal is the 11th acquisition of the year for the national advice firm

Ayesha Venkataraman
clock 05 December 2022 • 2 min read
Sivajoti: "It's been a long term goal of ours."

NextGen Planners valued at £5m as it opens crowdfunding

Comes after initial target of £150,000 was quickly exceeded

Hope William-Smith
clock 01 December 2022 • 1 min read