National Savings and Investments

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.

[1] "NS&I". GOV.UK. Retrieved 14 February 2014.

[2] "Who we are NS&I Corporate Site". Nsandi.com. 9 September 2015.

[3] 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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