We’re always on the lookout for ways to provide the most comprehensive service possible at Cordiner Wealth.

That’s why we’ve recently established an account with National Savings & Investments (NS&I), the Treasury-backed savings and investments body.

This expands our offering and provides even more options for the ways in which you save and invest. Similarly, if you already hold money with NS&I, we can view and help you manage this, seamlessly integrating these savings alongside the wealth we already have a handle on for you.

So, find out what NS&I is and the range of services on offer that could help you manage your money even more effectively.

NS&I is the UK government’s savings bank


In essence, NS&I is the UK government’s savings bank, offering a range of ways for you to save your money.

When you save with NS&I, you are essentially lending the government money. The government then uses this money for various projects.

The key thing to remember with NS&I is that, as it’s backed by the Treasury, it’s entirely secure – it would practically require the entire UK government to collapse for you to lose your savings.

Choose from savings accounts, ISAs, and bonds


NS&I offers a range of different savings services that could be useful to you. Below are a few details of some of the most popular savings products that you could choose from.

Easy access savings

NS&I’s Direct Saver is an easy access savings account allowing you to deposit and withdraw money freely with no notice and no penalty. You can save from £1 up to £2 million in this account, with interest paid annually.

You should bear in mind that tax may be payable on any interest generated with this account if it exceeds your Personal Savings Allowance. In the 2022/23 tax year, this threshold is:


  • £1,000 for basic-rate taxpayers
  • £500 for higher-rate taxpayers
  • £0 for additional-rate taxpayers.


Make sure you consider this before saving, especially if you have large sums.


ISAs are tax-efficient accounts, in which interest or investment returns are free from Income Tax and Capital Gains Tax (CGT). Each tax year, you can save up to the ISA Allowance across all your ISAs. This threshold stands at £20,000 in the 2022/23 tax year.

The Direct ISA that NS&I offers is a Cash ISA, offering you a method of building a tax-efficient savings pot without having to worry about tax on any interest generated. You can freely take money out of this account with no notice or penalty, although you should bear in mind that you’ll lose your ISA Allowance if you withdraw money in the same tax year that you contributed it.

NS&I also offers a Junior ISA (JISA), allowing you to build a savings pot in the name of a child. There is a separate JISA Allowance (currently £9,000 in 2022/23), which you can make use of to build a tax-efficient savings pot for perhaps your child or grandchild’s future.

Premium Bonds

Premium Bonds are one of NS&I’s most popular options. These offer you the opportunity to win monthly tax-free prizes ranging from £25 up to £1 million.

Each Premium Bond is worth £1 and you can invest from £25 up to £50,000. These are then entered into a monthly prize draw, with winners selected by “Ernie”, the electronic random number indicator equipment.

Your odds of winning for every £1 are just 24,000 to 1 so, while Premium Bonds could offer you a return, they are typically not suitable for achieving your long-term financial goals.

Income Bonds

Income Bonds function in the same way as other bonds, with the government fulfilling the role as the borrower: you lend the government your money in return for regular interest payments, which are paid to you monthly. You can invest from £100 up to £1 million in Income Bonds.

Unlike other bonds, though, you don’t have to wait for the maturity date to have your initial sum returned to you. Rather, you are free to withdraw your money at any time with no notice and no penalty.

As with the Direct Saver, your interest may be subject to tax if it exceeds your Personal Savings Allowance.

Green Savings Bonds

Green Savings Bonds are one of NS&I’s newer savings products, having launched in October 2021.

You can save from £100 up to £100,000 in these bonds, and you won’t be able to access your money until the bond matures after three years. You’ll then receive the interest on your savings depending on what the interest rate has been throughout the term of the bond.

This interest will be taxable in the tax year that the bond matures, again depending on whether you have any remaining Personal Savings Allowance.

The government will exclusively use money saved in Green Savings Bonds for “green projects”, meaning your savings will be used to contribute towards environmentally conscious work. You can check what this includes when the government publishes details of these.

We can help you manage your NS&I holdings


Now that we have our own NS&I account at Cordiner Wealth, we can help you manage your savings held with the government bank. If you already have savings held with NS&I, this means we’ll be able to view these and help you manage them.

Crucially, we can help you keep track of your national savings so that they don’t go missing or unclaimed. Indeed, according to the Northern Echo, there were £80 million of unclaimed Premium Bond prizes when NS&I released figures in December 2022. We can keep an eye on elements like this for you.

Meanwhile, if you don’t currently have savings with NS&I but you would like to, we can help you choose the most appropriate options for your personal circumstances and set these up.

Speak to us


Want to find out how the options at NS&I could make up a part of your financial plan? Get in touch with us at Cordiner Wealth today.

Email hello@cordinerwealth.co.uk or call 0113 262 1242 for more information.

Please note


This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.

The Financial Conduct Authority does not regulate NS&I products.