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| Company type | Non-ministerial government department of HM Treasury |
|---|---|
| Industry | Financial Services |
| Founded | 1861 |
| Headquarters | 16-20 Great Smith Street London, SW1P 3BT |
Key people |
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| Products | Savings and Investments |
| Website | nsandi |
National Savings and Investments (NS&I), formerly called the Post Office Savings Bank and National Savings, is a state-owned savings bank in the United Kingdom. It is both a non-ministerial government department[1] and an executive agency of HM Treasury.[2] The aim of NS&I has been to attract funds from individual savers in the UK for the purpose of funding the government's deficit. NS&I attracts savers through offering savings products with tax-free elements on some products, and a 100% guarantee from HM Treasury on all deposits. As of 2017, approximately 9% of the government's debt is met by funds raised through NS&I,[3] around half of which is from the Premium Bond offering.
- ^ "NS&I". GOV.UK. Retrieved 14 February 2014.
- ^ "Who we are NS&I Corporate Site". Nsandi.com. 9 September 2015.
- ^ Smith, Oliver (30 July 2018). "Doomed if interest rates go up? The UK government already spends £49 billion on debt interest". IG Markets. Retrieved 24 February 2020.