National Savings Products
National Savings & Investments (NS&I) is a government-owned savings bank that raises funds for the UK government. It provides a selection of very low-risk savings and investment products, which are regarded as some of the safest options available. This is because all deposits with NS&I are 100% secured by HM Treasury, meaning your entire investment is guaranteed, unlike the limited protection offered by the Financial Services Compensation Scheme (FSCS) for commercial banks.
While the returns may be modest compared to other investments, the main appeal of NS&I products is their security. Some products also offer tax-free returns, though others may require you to lock in your money for a fixed term.
The range of products offered by NS&I varies over time, but typical examples include:
- Premium bonds: Instead of paying interest, these bonds enter you into a monthly prize draw for tax-free cash prizes.
- Direct saver and income bonds: These are straightforward, easy-access savings accounts that pay interest.
- Fixed-term products (e.g., Green savings bonds, Guaranteed growth bonds): These require you to lock your money away for a set period in return for a fixed interest rate.
The rates, terms, and availability of all NS&I products can change, so it is always important to check the latest information. Although they are a staple for savers seeking security, they represent just one part of the broader savings and investment landscape.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE NATIONAL SAVINGS PRODUCTS.
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