Important changes to NS&I savings accounts
We’re making some changes to two of our savings accounts as part of our plans to simplify our range of savings and investments and to encourage customers to deal with us directly.
From 21 May 2012 our Investment Account will become a postal-only account. We're not currently accepting new applications for the Investment Account, but we will start accepting applications again from 21 May 2012 when the changes take effect.
On 27 July 2012 our Easy Access Savings Account will close completely. We are no longer accepting new applications for the Easy Access Savings Account.
Investment Account
We’re making the NS&I Investment Account simpler. The biggest difference is that all transactions will be by post, so if you have one of these accounts you won’t be able to make deposits at a Post Office® branch, or collect withdrawals in cash. And instead of using the passbook, we’ll keep you informed by sending you transaction records and an annual statement.
Don’t worry, your savings will remain 100% secure, backed by HM Treasury. We’re just changing the way you can run the account. In the meantime you can carry on using your Investment Account as normal.
The changes will allow us to give all our Investment Account customers a higher rate of interest from 21 May 2012 when the account becomes postal-only. The new interest rate will be announced on 21 May 2012.
We are contacting customers from December 2011 with details of the changes.
Find out more about changes to the Investment Account
Easy Access Savings Account
On 27 July 2012 all remaining NS&I Easy Access Savings Accounts will be closed.
If you have one of these accounts, from that date:
you won’t be able to pay any more money into your account
you won’t be able to make any withdrawals
Don’t worry though, you can carry on using your Easy Access Savings Account as normal in the meantime. Your money remains 100% secure, backed by HM Treasury.
We are contacting customers from December 2011 with details of their options.
Find out more about your options before the Easy Access Savings Account closes
