Compare UK savings products by how they pay
Premium Bonds use monthly prize draws rather than paying conventional interest to each bondholder. NS&I also offers savings accounts designed for access to funds or periodic interest. Their rates, withdrawal conditions and other terms are product-specific.
Products and programmes to explore
Use these official links to confirm product eligibility, current terms and application details. GovtSave does not publish a single rate where the official product or account framework does not have one.
Premium Bonds
Prize-linked savings
Eligible bonds enter monthly prize draws instead of earning conventional interest. The prize fund rate is not a promised return for an individual holder.
Direct Saver
Easy-access savings
An NS&I savings account designed for easy access. The applicable rate and account conditions can change, so confirm them before opening or depositing.
Income Bonds
Savings with monthly interest
An NS&I savings product designed to pay interest monthly, subject to its current product terms and rate.
What to verify before comparing
When comparing options, distinguish a prize-fund rate from an interest rate paid to an individual saver. Check minimums, withdrawal timing, eligibility, tax treatment and whether the rate is fixed or variable.
- Confirm whether an advertised figure is an interest rate, yield, coupon, prize-fund rate or an annually declared dividend.
- Check current eligibility, fees, contribution or purchase limits, access rules, tax treatment and maturity conditions with the responsible official agency.
- Use the date and terms of the specific issue or product, rather than relying on an old rate quoted elsewhere.
Frequently asked questions about United Kingdom savings
Do Premium Bonds pay regular interest?
No. Premium Bonds enter eligible holdings into prize draws; the prize fund rate is not an interest rate guaranteed to each saver.
Is the NS&I Direct Saver rate fixed?
The rate is variable. Check NS&I's current product page for the rate and conditions that apply now.
Where should I check official NS&I terms?
Use the official NS&I product pages linked above before making a decision.
GovtSave is an independent educational resource, not a government agency, bank or financial adviser. This page provides general information, not personal financial, tax or legal advice. Rates, terms and eligibility can change; use the linked official sources before making a decision.