NS&I cuts ISA rate to 0.75pc

Savings provider NS&I will reduce the interest rate on its Direct ISA by 25 basis points to 0.75pc from Sept 24, saying it would “deliver positive value for taxpayers”. The move will affect around 387,000 people. There has been a wider trend of shrinking returns on ISAS. The Direct ISA was launched in 2008 with a rate of 5.3pc.