National Savings and Investment Saving-Certificate
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National Savings and Investment (NS & I) Fixed Interest and Index Linked Savings Certificates
National Savings and Investment (NS&I) offer a range of 100% secure savings products, some of which are completely tax-free. NS&I started off as part of the UK Post Office and is still completely backed by the UK government, unlike most other forms of savings account.
There are various ways of legally hiding your money from the taxman, such as ISAs (Individual Savings Accounts), Personal Pensions, VCTs and EIS schemes, Premium Bonds, but perhaps the simplest and safest is the Savings Certificate. These have been around for many years and are a government-backed saving account similar to a fixed term savings bond and available in index-linked or fixed interest varieties. What most people don't know is how much money can be hidden in these accounts: you can save £15,000 in each issue (maybe two fixed interest and two index linked each year) and these can be rolled over into new issues when they mature after three or five years.
Disclaimer: Information in this and other linked articles is unregulated and for general information only and is not intended to be relied upon in making specific investment decisions. Appropriate independent advice should be obtained before making any such decision.
Table of Contents: NS & I Savings Certificates
- So. Are they any good?
- ISAs and Pensions
- Tax Efficient Savings
- Tax Free. Index-linked or Fixed Interest
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- National Savings and Investment
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- All About Me
- Please Twitter Follow AndyPo
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- Money
So. Are they any good?
These certificates (like Premium Bonds) exist to lend money to the UK government so their competitiveness varies depending on how much trouble the UK government is, but as long as the UK remains a AAA rated country (still true at the time of writing... Just) the certificates will remain one of the safest places to keep you money.
ISAs and Pensions
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Invest in a tax-free ISA
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In the UK Individual Savings Accounts or ISAs are little more than an official tax-wrapper into which other investments may be hidden from the tax-man, but they are a useful way to reduce tax. This article is about the advantages and disadvantages o...
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Personal Pensions (and SIPPs)
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Pensions are extremely important, but very boring and tend to be neglected until it is too late. Personal Pensions, SIPPs (Self Invested Personal Pensions) and Stakeholder Pensions are not the only way to financially prepare for life after work, but...
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Tax Efficient Savings and Investment
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Tax Efficient Savings
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Tax Free. Index-linked or Fixed Interest
The index-linked savings certificates are an easy way to protect yourself against inflation although an index linked Gilt ETF would also be a good alternative (e.g. iShares .... )
The standard savings certificates are and alternative to cash ISAs and while they are more restrictive than an ISA given that you will have to hold them for 3 or 5 years they do allow rather more money to be protected from the Tax Man.
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Loading content... please stand byNational Savings and Investment
National Savings and Investments (NS&I), formerly called the National Savings Bank, is a state-owned savings bank in the United Kingdom. It is an executive agency of HM Treasury. The aim of NS&I is to attract funds from individual savers in the UK for the purposes of funding the government's public sector borrowing requirement (i.e., the funds in excess of taxation that the government requires to fund its activities).
NS&I's head office is in Pimlico, London, with operational sites in Blackpool, Glasgow and Durham. However, its entire back office operation is contracted out to a German company, Siemens IT Solutions and Services. Some work is off-shored to Chennai, India. http://www.nsandi.com/about/ourstory.jsp
It offers many of its services through post offices, and was founded in 1861 as a postal savings system.
NS&I attracts savers through offering saving products with tax free elements on some products, and a 100% guarantee from HM Treasury on all deposits. However, its rates are often low.
NS&I's most popular product, Premium Bonds, celebrated its 50th anniversary in November 2006 when a special 5× £1m jackpot draw was announced. A second 5× £1m jackpot anniversary draw in June 2007 celebrated 50 years since the very first prize draw.
Buy Gold and Silver
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Investing in Gold and Silver
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Many advisors recommend having 5% to 10% of gold, silver and other precious metals in your investment portfolio. This can be in the form of mining stocks and shares, ETFs (Exchange Traded Funds), mutual funds or investment trusts, although at least s...
All About Me
Lensmaster AndyPo has been a member since July 7 2008, has rated 2,364 lenses, favorited 2,281, and has created 245 lenses from scratch. This member's top-ranked page is "Ferrari 308 - Affordable classic (Magnum's car)". See all my lenses
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Hi, I am Andy. I live in the U.K. but have worked and travelled all over the world. I am a semi-professional wildlife and travel photographer (i.e. I sold a couple of photos once), semi-retired consultant physicist (i.e. unemployed boffin) with a keen interest in finance (i.e. get rich quick..ly) and writing:
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Please Leave Some Feedback
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Reply
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AndyPo
Jul 19, 2010 @ 6:47 am
- National Savings and Investments have, today, withdrawn both their Index-Linked and Fixed Interest Savings Certificates. A temporary measure, presumably.
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Reply
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ElizabethJeanAllen
Dec 25, 2009 @ 7:34 pm
- Very informative.
Thank you.
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