United Kingdom government non-ministerial department
For other uses, see National Savings Bank (disambiguation).
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National Savings and Investments Welsh: Cynilion a Buddsoddiadau Cenedlaethol
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
Ed Anderson, Chairman
Dax Harkins, Chief executive
Products
Savings and Investments
Website
nsandi.com
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.
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