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NS&I to increase interest rates on Direct Saver and Income Bonds

Ian Ackerley, NS&I Chief Executive
Photo of Ian Ackerley, NS&I Chief Executive

NS&I has increased the interest rates on its Direct Saver and Income Bonds to 0.50%, from today.

The interest rate on both Direct Saver and Income Bonds has increased by 15 basis points, with the interest paid on both accounts changing from 0.35% gross/AER to 0.50% gross/AER.

NS&I Chief Executive Ian Ackerley (pictured), said: “The new interest rates will ensure that our products are priced in line with the broader savings sector. The increase will also help us to meet our annual Net Financing target for 2021-22 of £6 billion, in a range of £3 billion to £9 billion.”

 

Product Previous interest rate Interest rate from today (10 February 2022)

 

Direct Saver 0.35% gross/AER

 

0.50% gross/AER (+15 basis points)
Income Bonds 0.35% gross/AER

 

0.50% gross/AER (+15 basis points)

 

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