NS&I Savings Guide
NS&I is best known for Premium Bonds. Each bond generates a unique number, all of which are entered into a monthly draw and winners are selected at random. The jackpot is £1million but prizes range from £25 to £100,000. All prizes are all exempt from income tax and capital gains tax.
NS&I is also renowned for its index-linked savings certificates which ensure your interest is ahead of inflation. However, depending on the inflation and interest rates, these products are not always on sale.
NS&I also offers a range of savings accounts including fixed and variable rate ISAs, easy access savings accounts, income bonds (and income bonds for children) and a range of investments. You can choose whether you want to operate your account by post, telephone or online.
Unlike savings accounts from other providers, NS&I doesn’t require you to give notice prior to a withdrawal, and there are no penalties to pay for accessing your money.