National Savings

By: EconomyWatch Content   Date: 10 November 2009

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National Savings and Investments are one of the biggest investment and savings product providers in UK. This organization offers 100% financial security as it is backed by HM Treasury. National Savings offer a wide range of accounts and investment options. It is also well known for its premium bonds.

Banks or building societies are owned by individuals or private firms. These organizations reinvest the consumers’ money to generate profits and later share the same profits between the share holders and the consumers. Whereas NS&I (National Savings and Investments) is a government department that offers financial products such as savings and investment options to the public. The money is with the government and therefore extremely safe. This money is invested in public financing.

National Savings: Products and Services

National Savings offer almost all the kinds of financial products, be it saving options, guaranteed returns or products that don’t attract any form of tax. Below is the list of such products:

 

  • Tax-free

    • Premium Bonds

    • Index-linked Savings Certificates

    • Fixed Interest Savings Certificates

    • Direct ISA

    • Children's Bonus Bonds

 

  • Guaranteed returns

    • Guaranteed Growth Bonds

    • Index-linked Savings Certificates

    • Fixed Interest Savings Certificates

 

  • Income

    • Guaranteed Income Bonds

    • Income Bonds

 

  • Savings accounts

    • Investment Account

    • Easy Access Savings Account

    • Direct ISA

 

National Savings and Investment (NS&I) keeps updating their portfolio. Therefore, interested consumers can keep themselves updated by either contacting NS&I customer service on 0845 964 5000 (lines are open seven days between 7:00 am and midnight) or by visiting their site. One can also pick their forms from post offices or from selected WHSmith Stores and apply for the products.

 

However, NS&I (National Savings) doesn’t offer a high interest rate and therefore might not be as profitable as others. Even though private investment is a potential risk, there are many banks that have established their reliability and have a huge clientele. Investing in these reliable banks, thus, might just be more profitable than investing in National Savings.





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