Savers hit by NS&I ISA rate cut

Press Association
Piggy bank
Piggy bank

Hard-hit savers have been dealt another blow after Treasury-backed National Savings & Investments cut the interest rate on a popular ISA product.

More than 300,000 account holders have seen the rate on NS&I's tax-free Direct ISA savings account drop from 2.5% to 2.25% from Monday.