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National Savings and Investments (NS&I) offers a wide range of cash savings products that are fully backed by government guarantee.

What is NS&I?

NS&I is a government agency that offers saving and investment products to the public. NS&I changes its products often, and at any given time you might find the following.

How they work

  • When saving or investing with NS&I, you’re lending to the government and your money is totally secure.
  • Different NS&I products will pay interest, stock market or inflation-linked returns (income) or, in the case of Premium Bonds, tax-free prizes.

Risk and return

  • You can be sure that you’ll get all your money back.
  • As with any cash-based product, if inflation is high your money might not hold its value in real terms – in other words its ‘buying power’ may reduce.

Charges

  • There are no explicit charges.

Safe and secure?

  • Your cash is fully backed by the government, however much you pay in.

Where to get NS&I products

You can buy NS&I products directly from NS&I online. Premium Bonds and Children’s Bonus Bonds can also be bought via the Post Office.

Tax

Some NS&I products pay tax-free returns. These include Premium Bonds, Fixed Interest and Index-Linked Savings Certificates, Children’s Bonus Bond and ISAs. Guaranteed Income Bonds and Guaranteed Growth Bonds pay returns with basic rate income tax deducted at source (at, currently, 20%), although non-taxpayers can reclaim this tax. For other products, returns are taxable but paid ‘gross’ (without tax taken off). If you’re a UK taxpayer, you have a duty to declare the income to HM Revenue & Customs and pay any tax you owe.

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