Published On: Thu, Aug 6th, 2020

Martin Lewis urges people to act as he highlights ‘best place to save’ right now | Personal Finance | Finance

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This account currently pays 0.8 percent AER/gross on savings between £20 and £1million.

So, why do NS&I products have a different form of protection to other savings accounts?

Martin explained: “All of those, because they’re with NS&I, which is government state-owned, effectively you’re saving with the government.

“So normally I talk about the £85,000 UK savings safety protection, but here, all your money is protected by the state.

“Which means, some of these let you put up to £2million in it. So for those who have got big money and want to keep it somewhere safe, you’re getting the best paying and total safety.”

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