National Savings & Investments looks to cut interest rates


A blow to savers as National Savings & Investments looks to cut interest rates on easy-access Isas down to 0.75%

  • NS&I will cut the rate on its easy-access Isa from 1% to 0.75% from September 24
  • The decrease comes when interest rates are expected to rise
  • The Government agency wants to attract less from savers in this financial year

City & Finance Reporter for the Daily Mail

National Savings & Investments (NS&I) will cut the rate on its easy-access Direct Isa from 1% to 0.75% from September 24

National Savings & Investments (NS&I) will cut the rate on its easy-access Direct Isa from 1% to 0.75% from September 24

National Savings & Investments (NS&I) will cut the rate on its easy-access Direct Isa from 1% to 0.75% from September 24

National Savings & Investments (NS&I) will cut the rate on its easy-access Direct Isa from 1per cent to 0.75per cent from September 24.

In a blow to savers, the decrease comes when interest rates are expected to rise. 

Money Mail warned last month that NS&I could give savers a poorer deal.

The Government agency, which raises money for HM Treasury, wants to attract less from savers in this financial year. 

Its target is £6 billion (plus or minus £3 billion each side) between April 1 and March 31 next year – the lowest for five years.

Last year, when it launched new bonds and its Junior Isa, it wanted more than double at £13 billion. 

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