Ns&i

Layo909

Could somebody give a few lines (idiots guide-style) summary of what NS&I is, what it does, when it should be used and who should use it?

le_loup

Go to their website ... it tells you all you need to know.
If you have specific questions, come back.

MoneySaverLog

Or ring their freephone number and listen to the lady's speel on the phone about who they are ;-)

kidmugsy

They are the Government, so They are there to help you.

But to be serious, as far as I can tell they weren't Blaired or Browned, so their ethos may go back to an earlier era. I think I had some of their Savings Certificates when I was a little boy in the 50s, and am now a fan of their Index-Linked Savings Certificates particularly (they go back to Thatcher's time). In the past I've held their Premium Bonds (introduced in Macmillan's time) and their Cash ISA (Chancellor Brown's sole good move?) and have always found their service to be good; imperfect, but good - few mistakes, and those put right quickly. Of course, if HMG ever decides to default on its debts you might worry about ns&i, but I think they'd be reluctant to default on investments held only by voters.

MoneySaverLog

kidmugsy wrote: »

Of course, if HMG ever decides to default on its debts you might worry about ns&i, but I think they'd be reluctant to default on investments held onlyby voters.

Don't think that will ever happen, all they will do is devalue the pound, increase inflation and make the pound worth less in the pocket. Opps is that what they are doing?

bigfreddiel

Layo909 wrote: »

Could somebody give a few lines (idiots guide-style) summary of what NS&I is, what it does, when it should be used and who should use it?

this poster is having a laugh - no one can be so ignorant surely?

le_loup

bigfreddiel wrote: »

this poster is having a laugh - no one can be so ignorant surely?

C'mon, you've been around these parts to know that the level of ignorance is monumental!
Alternatively we have a generation of people who just can't be bothered to find out anything as long as some mug on a forum will do all the work for them. Just how many threads start with, "I've got two pounds nine and sixpence, what should I do with it?"?

masonic

le_loup wrote: »

C'mon, you've been around these parts to know that the level of ignorance is monumental!
Alternatively we have a generation of people who just can't be bothered to find out anything as long as some mug on a forum will do all the work for them. Just how many threads start with, "I've got two pounds nine and sixpence, what should I do with it?"?

Even when some mug has already done all the work for them on the main site.

MoneySaverLog

le_loup wrote: »

"I've got two pounds nine and sixpence, what should I do with it?"?

Save the sixpence for Christmas, it can go in the pud

xrjtg

Layo909 wrote: »

Could somebody give a few lines (idiots guide-style) summary of what NS&I is, what it does, when it should be used and who should use it?

It's a company run by the Government as part of their fundraising activities. Typically they will pay less than banks for normal deposit accounts, as some people are prepared to accept less interest in return for the cast iron security. Some of their products are tax free though, which can make them attractive to higher rate tax payers. The main one currently attracting interest is Index-Linked Savings Certificate, which guarantees that the value of your deposit will not decrease in real terms over the next five year.

kidmugsy

le_loup wrote: »

"I've got two pounds nine and sixpence, what should I do with it?"?

And do they stick it there?