What is NS&I?
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In short: National Savings & Investments — a government-backed savings provider offering Premium Bonds, Direct Saver, Income Bonds and fixed-term products. Money is 100% Treasury-backed, so the FSCS deposit cap does not apply.
Content updated:
NS&I raises funds for government spending. Premium Bonds pay tax-free prizes instead of interest; interest-paying accounts quote rates set by the Treasury.
Popular for large cash balances above FSCS limits and for tax-free prize income. Rates may lag best-buy bank accounts when NS&I is not actively attracting deposits.
See our NS&I products guide and Premium Bonds explained.
Primary source: nsandi.com
Part of our Savings & ISAs
This quick answer sits inside our wider savings & isas hub — with sub-guides, calculators and step-by-step explainers on the same topic.
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