Financial guru Martin Lewis's MoneySavingExpert.com (MSE) has provided crucial clarity for UK savers, detailing how National Savings and Investments (NS&I) offers a route to secure, guaranteed interest.
A Safe Haven for Large Savings
The team at MSE highlighted a key advantage of NS&I, which is backed by the UK Treasury. For households holding more than £85,000 in savings, NS&I accounts present a uniquely safe option. This is because the Financial Services Compensation Scheme (FSCS) protection limit, which safeguards money if a UK-regulated provider fails, is removed. With NS&I, the risk of the provider collapsing is eliminated as it is a state-owned institution.
NS&I Interest Rates vs The Market
MSE has delivered a comprehensive breakdown of the latest interest rates available across NS&I's savings products, comparing them directly against top competitors. All rates have seen recent increases, making them more attractive to savers.
The One-Year Bond now offers 4.2%, up from 4.04%. This compares to a market-leading 4.47% from Monument Bank, with a big-name alternative of 4.22% from MBNA.
The Two-Year Bond pays 4.1%, increased from 3.85%. Savers can find a slightly higher 4.41% at DF Capital, while Tesco Bank offers a comparable 4.01%.
The Three-Year Bond provides 4.16%, up from 3.88%. JN Bank leads here with 4.39%, and Skipton Building Society offers 4.02%.
The Five-Year Bond now yields 4.15%, a significant rise from its previous 3.84%. JN Bank also leads this term with 4.4%, while Skipton Building Society provides 4.06%.
Leadership Stability at NS&I
In related news, the Treasury-backed institution has confirmed the reappointment of David Woodward as a Non-Executive Director to the NS&I Board. His new term will last for a second three-year period, extending until January 2029.
Non-Executive Directors like Woodward play a vital role in ensuring NS&I maintains a sound strategy to meet its government remit of raising cost-effective debt financing. They provide external advice, oversee risk control, and ensure transparent relationships with the organisation's outsourcing partners.
Woodward brings extensive financial expertise to the role. He is a qualified chartered management accountant with vast experience as a finance director across multiple industries. His non-executive experience includes previous positions as chair of audit and risk committees at the Hinckley & Rugby and Market Harborough building societies, as well as Lincolnshire Community Health Services NHS Trust.
