The UK Department for National Savings was established in 1969, having previously been known as the Post Office Savings Department. It is responsible for administering a wide range of schemes for personal savers, including premium bonds, income bonds, deposit bonds, and yearly savings plans. In addition the department has offered a range of National Savings Certificates costing either œ10 (up to 1981) or œ25 (from 1981), some of which have been index-linked. The income they pay is income- tax free and the element of capital gain is free of capital-gains tax. Research National Savings
The National Savings Bank is a savings bank operated by the Department for National Savings through the agency of the Post Office. It offers ordinary accounts with a minimum deposit of œ1 and a maximum of œ10,000, and investment accounts paying a higher rate of interest for deposits of between œ5 and œ100,000. Research National Savings Bank
The National Savings Stock Register is an organisation run by the Department for National Savings to enable members of the public to purchase certain Treasury stock and other gilts as an alternative to the main Bank of England Register. Purchases and sales are made by post and income is taxable, but is paid before deduction of tax (unlike the Bank of England Register). Because transactions are carried out by post, this method does not provide the maximum flexibility for dealing in a moving market. Research National Savings Stock Register
The Probert Encyclopaedia was designed, edited and programed by
Matt and Leela Probert
Abbreviations
Research National Savings
