Does National Savings (NS&I) still exist?
Yes, NS&I (National Savings and Investments) still exists and is the UK government’s savings organisation. It offers savings and investment products including Premium Bonds, direct ISAs, income bonds, and fixed-rate savings certificates. Unlike commercial banks, NS&I is backed by HM Treasury — meaning all deposits are 100% government-guaranteed with no upper limit, unlike the £85,000 FSCS cap at commercial banks.
What products does NS&I currently offer?
NS&I’s main products include Premium Bonds (the UK’s most popular savings product, with over 23 million holders), Direct ISAs, Income Bonds, Direct Saver accounts, and Junior ISAs. NS&I periodically offers fixed-rate Guaranteed Growth Bonds and Guaranteed Income Bonds at competitive rates. Product availability and interest rates change regularly — always check the NS&I website for current offerings.
How do I access my NS&I account online?
NS&I account holders can manage their accounts online at nsandi.com or via the NS&I app. You will need your NS&I holder number and a password or PIN. If you have forgotten your login details, use the Forgotten Details function on the website or call NS&I on 08085 007007. NS&I also accepts account management by post and phone for those who prefer not to use digital services.
Open Banking in Practice: NS&I is not a commercial bank — it does not take deposits for lending purposes. Instead, it raises money for the UK government as an alternative to issuing gilts. Its 100% government guarantee makes it unique among UK savings providers. NS&I does not currently offer open banking API access in the same way as commercial banks, though it supports digital account management. Read our guide to NS&I products on openfuture.world.
FAQ
Who owns NS&I?
NS&I is wholly owned by and operated on behalf of HM Treasury — it is effectively part of the UK government, not a private company.
Are NS&I deposits protected by the FSCS?
NS&I deposits are 100% government-guaranteed — they are not subject to the FSCS £85,000 limit as they are backed directly by HM Treasury.
How do I contact NS&I by phone for free?
Call NS&I on 08085 007007, which is free from UK landlines and most mobile networks; lines are open Monday to Friday 8am–8pm and Saturday 9am–5pm.