National Savings
National Savings
NATIONAL SAVINGS AND INVESTMENTS
INTEREST RATES
Advanced notice of increased variable rates.
This is to give notice of increases to the interest rates on NS&I’s variable rate accounts. See below for details:
| Current rate | New higher rate | Effective date | |
| Direct ISA | 0.75% tax-free/AER | 1.00% tax-free/AER | 1 December 2017 |
| £1+ | |||
| Direct Saver | 0.70% gross/AER | 0.95% gross/AER | 1 December 2017 |
| £1+ | |||
| Income Bonds | 0.75% gross/AER | 1.00% gross/AER | 1 December 2017 |
| £500+ | |||
| Investment Account | 0.45% gross/AER | 0.70% gross/AER | 1 December 2017 |
| £1+ | |||
| Junior ISA | 2.00% tax-free/AER | 2.25% tax-free/AER | 1 December 2017 |
| £1+ |
DEFINITIONS
AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and AER are the same.
Gross is the taxable rate of interest without the deduction of UK Income Tax.
Tax-free means that the interest is exempt from UK Income Tax and Capital Gains Tax.
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