Money News
National Savings and Investments has increased interest rates on a wide range of its variable rate savings offers by up to 0.25% pa. This increase follows the movement in Bank of England base rate on July 5th.
The revised rates come into effect immediately for all variable rate products, with the exception of the Direct ISA, which was raised on July 5th, Premium Bonds, which will take effect from August 1st and Income Bonds on August 6th.
The Premium Bond prize fund rate meanwhile will increase from 3.80% p.a. to 4.00% p.a., free of Income Tax and Capital Gains Tax.
The odds of winning a prize with each £1 Premium Bond will improve from 1 in 24,000 to 1 in 21,000 as a result of the change in the prize band split.
25 July 2007 © Moneyextra.com
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