Martin Lewis and the MoneySavingExpert.com team have shed light on how National Savings and Investments (NS&I) offers a secure way for UK savers to earn guaranteed interest.
For households with savings exceeding £85,000, NS&I represents a particularly attractive option. Unlike regular banks and building societies protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, NS&I is backed by the UK government itself, removing the risk of losing money if a financial institution fails.
The MoneySavingExpert team has outlined current interest rates available in NS&I savings accounts compared with other high-street providers:
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- MBNA (part of Lloyds): 4.22%
- Tesco Bank: 4.01%
- Skipton Building Society: 4.02% to 4.06%
NS&I Premium Bonds continue to be a popular choice for savers seeking prize-based returns while maintaining capital security guaranteed by the government.
In recent news, David Woodward has been reappointed as a Non-Executive Director on the NS&I Board for a second three-year term, running until January 2029. His role includes overseeing NS&I’s strategy to raise affordable debt financing for the government, advising on risk management, and maintaining transparent relationships with outsourcing partners.
Woodward brings extensive experience as a chartered management accountant and has held senior financial and non-executive roles across various sectors, ensuring NS&I operates with strong governance and financial oversight.
For savers prioritising safety and reliable interest earnings, NS&I remains a trusted and government-secured option in the current financial landscape.