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Do deposits with NS&I have a protection limit of £85k?

29 July 2021

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Question by Jyotindra

FSCS protects money deposits up to £85,000. What about deposits with NS&I? Does that also have a protection limit of £85K? Many thanks


Answered by James Greenly

Hi Jyotindra

This is a common question.

You are quite right in that the Financial Services Compensation Scheme (FSCS for short) protect your cash deposits up to a maximum of £85,000 per person, per bank.

This means if you have more than £85,000 with a single bank, it may make sense to spread that money across several different banks to ensure you are protected if any one of those banks goes bust (do make sure they are not owned by the same banking group, however!).

The situation with National Savings & Investments (NS&I for short) is slightly different. NS&I are actually part of the UK government, and they are backed by the Treasury. They offer what they call a ‘100% guarantee’. This means every single penny you hold in NS&I accounts is protected, not just the first £85,000.

I hope this helps.

Answered by

James Greenly

Chartered Financial Planner

I am a Chartered Financial Planner at Capital Asset Management, a boutique financial planning and wealth management firm based in the City of London.