NS&I Direct ISA interest rate lowers to 3.30%

The interest rate paid on NS&I's Direct ISA will decrease from 4.80% per annum to 3.30% following yesterday's decrease in the Bank of England base rate.

In line with NS&I's continued commitment to the pricing of its Direct ISA - ensuring transparency and consistency - the new rate becomes effective from today, Friday 7 November 2008.

Direct ISA key features

Invest online and by phone only with a debit card
Interest rate guaranteed to be 0.30% above base rate until 5 April 2009
Minimum deposit: £1,000
Minimum further deposit: £250 (or £100 by standing order)
Minimum withdrawal: £250 to nominated bank account
All interest free of UK Income Tax