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NS&I Direct ISA Interest Rate Raise to 6.3%
patwa_2
Posts: 1,542 Forumite
I just had a letter delivered from NS&I (yes, literally just now at the ridiculously late time of 13:20 
) advising that from 05 July 2007 the interest rate for their Direct ISA rose to 6.3% as part of their pledge to keep their rates at least 0.55% above the base rate until 05 April 2007.
Sorry if already posted, the search doesn't work for "NS&I" so it was rather hard to find previous posts on the topic.
H.
) advising that from 05 July 2007 the interest rate for their Direct ISA rose to 6.3% as part of their pledge to keep their rates at least 0.55% above the base rate until 05 April 2007.Sorry if already posted, the search doesn't work for "NS&I" so it was rather hard to find previous posts on the topic.
H.
Know me for who I am, not for who I say I am.
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Comments
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My wife and I got these letters today also.Late delivery was probably due to a backlog as I think there was strike action on Saturday just gone.However,we already knew of the increase thanks to the NS&I website.:beer:In an Acapulco hotel:
The manager has personally passed all the water served here.:rotfl:0 -
Yes,me too.However,brilliant though they are at present,keeping such a good rate and changing up so quick,they also stress that,come next April when the rate guarantee ends,they will no longer notify us of rate changes.
Is this a taste of things to come,ie when it changes for the worse,or doesn't change at all,are they going to try and keep it from us? Though the Isa is a good rate,in general other NS & I products are not very competitive.
What do others think they will do?0 -
Is this a taste of things to come,ie when it changes for the worse,or doesn't change at all,are they going to try and keep it from us? Though the Isa is a good rate,in general other NS & I products are not very competitive.
What do others think they will do?
They obviously cannot hide their rates. I have thought about their position come April 2008. If they do not maintain their No.1 position then they will see a huge outflow of money. So what? We all go to the best transfer provider at that time.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
I think its just to reduce the amount of paperwork they send out.I'm all for that.:money:In an Acapulco hotel:
The manager has personally passed all the water served here.:rotfl:0 -
If the rate drops in April 2008, I'll subscribe to a different mini ISA for the year 2008-2009, hopefully one which will allow transfers in. *shrug* However, I hope it doesn't happen as I do like NS&I, they are brilliant on the phone.0
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As long as the ISA remains competitive after April 2008 then i will stick with NS&I, but if it does begin to fade away into the background then i will have to consider other options for the cash.Had £80,000 in Savings - All GONE!!! BYE BYE:A Single, 27, Aspie, Gooner :A0
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