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 an executive agency of the Chancellor of the Exchequer. 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 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.
Read more about National Savings And Investments: History, Role, Operations, Current Products, Old Products, Government Guarantee, Visual Identity
Famous quotes containing the words national and/or investments:
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