NS&I (National Savings and Investments) is a term well recognised throughout the UK, but many people do not fully understand what the organisation can offer and exactly who is behind it. In reality it is one of the largest savings organisations in the UK, with almost 27m customers saving money regularly with it. 

NS&I was founded by the British government in 1861 as the Post Office Savings Bank. The aim of the bank was to allow workers "to provide for themselves against adversity and ill-health", and to provide the government with access to debt funding. In 1969 the bank was transferred from the Post Office to the Treasury and its name was changed to National Savings. The name was changed again in 2002 to National Savings and Investments.

NS&I manages around £94 billion in savings (around 10% of the UK savings market). This accounts for around 16% of the UK's national debt. As funds from NS&I are a relatively cheap source of government borrowing, the bank sets interest rates both to attract savers and provide low-cost finance for the government. As with any commercial operation, a reasonable return must be provided to both customers and owners. For NS&I, the owner is the Government and their interest rates are set to meet Government's financing targets, while aiming to deliver consistently good value to customers.

NS&I is perhaps best known for Premium Bonds, held by over 2m people, but it also offers a range of ways to save to suit different people's needs, including Inflation-Beating Savings, Guaranteed Equity Bonds and Children's Bonus Bonds. Very importantly, all products offer 100% security, because NS&I is backed by HM Treasury. A quick summary of the key products is produced below.

• Premium Bonds - Monthly prize draw with a £1 million jackpot, tax-free prizes 
•  Inflation-Beating Savings - Ensure that the value of savings will stay ahead of any increase in the Retail Prices Index over the investment term  
• Fixed Interest Savings Certificates - Guaranteed returns, tax-free  
• Guaranteed Equity Bond - Growth potential linked to the performance of the FTSE 100 index with a 100% capital guarantee  
• Direct ISA - Tax-free ISA with the convenience of managing accounts by phone and online  
• Children's Bonus Bond - A tax-free lump sum to give a child a head start in life  
• Income Bonds - Provides a monthly income at attractive variable rates 
• Easy Access Savings Account - The easy way to build up savings  
• Investment Account - Straightforward passbook savings account  
• Guaranteed Growth Bonds - A guaranteed return on investment  
• Guaranteed Income Bonds - A guaranteed monthly income

You can apply for most NS&I investments online, by telephone or by mail. Information about NS&I's range of accounts and investments is available through Post Office branches across the UK, and customers can apply for most of them over the counter. Brochures for Premium Bonds, Income Bonds and Inflation-Beating Savings are also available in over 500 WHSmith stores throughout the country.