National Savings & Investments products
Produced in partnership with Tolley Guidance
National Savings & Investments products

The following Private Client guidance note Produced in partnership with Tolley Guidance provides comprehensive and up to date legal information covering:

  • National Savings & Investments products
  • Giving investment advice
  • Premium bonds
  • National savings certificates
  • Children's bonds
  • Income bonds
  • Help-to-save scheme
  • Other products

National Savings & Investments (NS&I) is an Executive Agency of the Chancellor of the Exchequer. According to its website, NS&I is one of the largest savings organisations in the UK, with 25 million customers and £100 billion invested. Best known for premium bonds, the organisation also offers a range of other savings and investments to suit different people's needs, including savings certificates, income bonds and children's bonds. All the products offer 100% security because NS&I is backed by HM Treasury.

Individuals can buy NS&I products online, but new investors will need to supply evidence of identity and address.

Giving investment advice

The usual health warning applies here: practitioners cannot give investment advice unless authorised to do so by the Financial Conduct Authority. While it is permitted to tell the client about tax efficient investments generally, unless authorised to do so practitioners must not recommend any, based on the client’s circumstances.

Premium bonds

Premium bonds do not guarantee a rate of return because a premium bond is effectively a raffle ticket. There is a draw every month, and only if the bond number is drawn does the investor win a prize.

Premium bonds are attractive because there is a possibility (however remote) that an investor could win a £1 million prize in the monthly draw. This prize is tax-free. Premium bonds can