The Perks With NS&I UK (National Savings and Investments)

May 7, 2010 - PRLog -- Since its inception by the Government in 1861 NS&I has remained true to its financial principles and is designed to offer individuals a safe and secure place to save and provides the British governmental department (Exchequer), charged with the collection and management of the national revenue, a continuous source of funding.

Initially established as the Post Office Savings Bank, in 1967 the name was changed to National Savings though its initial ties to the Post Office remain as one of its main sources for distribution of NS&I products and is still accountable to the Treasury.  Nearly 27 million people save and invest with a multitude of investment and saving products.

The most popular of all products offered by the NS&I are its premium bond offerings.  These bonds represent 40% of all the monies held by the NS&I and are designed to encourage individuals to save with incentives to win monthly cash prizes.  Over the course of the last five years, more bonds have been sold than in any of the forty-five previous years and monthly prizes have doubled with nearly 1 million prizes awarded every single month, and better yet, the cash prizes are tax-free.

Children’s bonus bonds are another popular product available for children and can be purchased for up to five years at a fixed interest rate, and returns are tax-free as well as an investment account which is available to anyone over the age of 7 and is another great way to get children started in investing.

There are also other popular types of savings bonds; however, it’s important to note these particular products are not tax-free.  There are four types, they are income bonds, guaranteed income bonds, guaranteed growth bonds and guaranteed equity bonds.
Another notable feature to saving and investing with National Saving and Investments UK is their award-winning customer service. The organization has been the recipient of awards nearly every year since 1997 and the organization has received notable accreditation's from the Customer Contact Association for their superior quality services. Learn more here http://www.economywatch.com/banks/commercial-banks/uk/ns-...

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