However, the interest is taxable so it will count towards your Personal Savings Allowance. We add your interest without deducting any tax. Payment timeline calculator Additional information Withdrawals can take 3-5 days to reach your bank account. You just need to keep a balance of at least £1 to keep your account open. Yes, you can take out money online or by phone with no notice or penalty. If you want to switch to Direct Saver from another NS&I account or investment, visit: Hold up to a total of £2 million per person in Direct Saver accounts.Open an account with at least £1, paid by a debit card in your own name, issued by a UK bank.Apply for, and manage, a Direct Saver online or by phone only.You can open an account in your own name or jointly with one other person. Our Direct Saver is for customers aged 16 or over. It assumes that you don’t make any withdrawals or additional deposits during the year. This is an illustration only, so it doesn’t take into account your individual circumstances. What would the estimated balance be after 12 months based on a £1,000 deposit?Ī £1,000 deposit would be worth £1,036.50,

If the rate goes down, we'll also contact you personally in advance to let you know. When the rate changes, we’ll update our website and literature as soon as we can. See the customer agreement (terms and conditions) for more details. Yes - the rate is variable so we can change it up or down from time to time, for example when the Bank of England base rate changes or when rates in the general savings market change.

We calculate the interest daily and add it to your account once a year on 1 April. NS&I Direct Saver What's the interest rate?

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