from 55 ratings
55 customers rated their National Savings & Investments savings as 4 out of 5 in our Consumer Finance Awards and Reviews.
Customer Service
Flexibility & Fairness
Product Features
Value For Money
NS&I Children's Bonds (Issue 35)
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Fixed Bond£25.002.5% fixed
for 5 years
on £25+
HM TreasuryOnline, Phone & Post
NS&I Direct ISA
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Cash ISA£1.001.5% variable
on £1+
HM TreasuryOnline & Phone
NS&I Income Bond
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Easy Access£500.001.26% variable
on £500+
HM TreasuryOnline, Phone & Post
NS&I Direct Saver
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Easy Access£1.001.1% variable
on £1+
HM TreasuryOnline & Phone
NS&I Investment Account
Account TypeOpen WithInterest Rate (AER)Protection SchemeOpen Account
Easy Access£20.000.75% variable
on £20+
HM TreasuryPost

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Reviews related to Savings

Safe and secure
Behind the times in accessibility
Recommended by lcser

Good old product which has now been changed, and if you want to have a "modern" service - i.e. not tied to administering your accout via snail-mail and the post office, they forced a move to a web-based savings account. The move could have benn handled better, as they lost my passbook and took 1 year to sort out, but overall, nothing's really changed. Still a safe place to keep your money!

Possibility of winning a million or numerous smaller prizes
Possibility of winning zilch
Recommended by aleslie1

OK so you don't get a regular interest payment but you do get a little excitement each month.

When I had the maximum amount if bonds I was winning pretty much every month. It worked out to about 12% interest. Now there is less in there I haven't received anything for months, but then I guess that is the luck of the draw.

It has a high interest rate and doesn't drop after a year.
If you need to take out money you lose interst.
Recommended by kathry

These are a very good way of saving money with a high rate of interst, which is difficult yo obtain at the moment. The interst rate doesn't drop after one year, as it does with many savings account. There is lots of information on the website and it is easy to buy these index linked savings.

index linked to RPI
limited to 15000
Recommended by smithd

In May 2011 I invested in the NS&I index-linked savings, up to the maximum of ?15,000. These have the huge advantage of being linked directly to the official RPI figure, with an additional small interest added the longer they are kept. At present, the inflation linking, which is tax-free, gives a return that is considerably above the interest rates available on other types of (say) building-society savings accounts.
These index-linked accounts can be kept up to 5 years, but can be cashed-in with full index-linking after just 12 months.
As inflation is predicted to fall towards the end of 2012, I expect to cash in later in 2012, to take advantage of the high return due to the high level of inflation that has occurred since I opened the accounts in May 2011.

The capital invested is protected from being eroded by inflation.
Income is not payable during the investment period.
Recommended by dmelmside35

Investment was easy as I arranged it over the telephone and the amount invested was deducted immediately from my bank account. However, I am registered with Esperian and I am an existing investor with National Savings which may be why investment was so easy.

The investment is attractive whilst the rate of inflation is high as the capital invested is protected from the effects of inflation during the investment period and the return at the end of the investment period is tax-free. There is also a small bonus payable on maturity.

The return is particularly attractive for higher rate taxpayers.

Poor returns, everything has to be done by post

I used to hold a few thousand in premium bonds but the ROI at current inflation didn't make sense - my capital was decreasing in value.

I know there are monthly prizes but the odds of getting anything like even the return on a bog standard savings account isn't good. I am also totally convinced that newer bonds win more prizes. My Dad used to but them quite regularly and he noticed that only his bonds that were under 3 months old tended to win, when we looked on line a lot of people were reporting similar observations.....hmmmmm.

I also did not like how long it took to get money out, everything has to be done by post or in a post office, it's the age of the internet NS&I - invest.

by comper1, 23 Feb 2012
Better rate of return than standard instant access savings accounts
Level of return not guaranteed
Recommended by comper1

I have found Premium Bonds a simple way to save using a ?50 per month standing order initially and now ?100 per month.
I have instant access to my money and have won several prizes of ?25 over the last 18months that has given me a better return than I could have gained via a standard savings account.
All my 'winnings' are automatically re-invested.

- ensures that the purchasing power of the capital is not eroded
- no income is payable as the return is only available on maturity
Recommended by Howard55

I found it easy to make this investment over the phone and the investment was made immediately as the invested sum was debited from my bank account. However, the reason for being able to invest so easily is probably because I am an existing investor and my credit rating is easily checked through Experian (to which I pay premiums).

The certificate was sent to me within a reasonable time.

Investing into an index-linked product provides peace of mind as the invested capital keeps pace with the effects of inflation eg the purchasing power of the capital is not eroded. The investment is valuable provided that an income is not provided. The return is tax-free after five years.

The potential to win big!
You lose out on a month's 'interest' when buying or selling bonds.
Recommended by chickweed

I've held the maximum number of Premium Bonds for over 10 years. (?30,000).On average, I get a prize a month - mostly of ?25.00 - which works out at about 1.5%. I've never won more than ?200.00 in any month, and there are several months when I've won nothing. So not exactly high yield, but its safe and fun. I get a wee rush of excitement when I check to see whether I've won each month!

by geoffh74, 20 Jul 2013
Intersst rate is not reliant on a bonus to be competitive.
Cannot pop into a branch to deal with it.
Recommended by geoffh74

Easy to use, rates don't suddenly fall when bonus period ends, but they are just about to be significantly reduced at the beginning of Serptember.