NS&I Investment Account 1Call us on 08085 007 007Visit nsandi.comFind out more about NS&I: 1

Digital brochure

Straightforward savings by post

with easy access to your money

Any questions? Tweet us @nsandihelp

What’s inside

2 Signed. Sealed. Delivered.

3 Investment Account explained A guide to the basics and how it works

5 Managing your account How to pay money in and take it out

6 Keeping track of your money How we’ll keep you up to date

7 Ready to apply? How to apply by post

7 Decisions, decisions Making sure the Investment Account is the right account for you

8 Terms and conditions Please read them before you apply

11 Always here to help you How to contact NS&I

The headlines

Saving money needn’t be

hard work. Especially when

you’re saving for something

specific, like moving home

or a once-in-a-lifetime trip.

Or simply putting aside some

money for when you might

really need it.

Whatever your goal, our

Investment Account will help

you stay in complete control.

It’s a quick and convenient way

to build up your savings.

Manage your account by post Put money in or take money out by post. No queues!

There’s no notice period Take money out when you want with no notice period.

It’s easy to keep track Keep up to date with transaction records and annual statements.

100% security for your money NS&I is backed by HM Treasury so all the money you invest with us will be 100% secure.

NS&I Investment Account 2

The basics

How much can I invest?

Minimum: £20

Maximum: £1 million per person.

If you have more than one Investment Account, the total amount you hold in those accounts can’t exceed the maximum limit.

What about interest? What about tax?Our Investment Account is

very straightforward.

You can pay money in and

take it out whenever you

want. You’ll earn interest

daily and we add it to your

account once a year.

Your money will earn interest daily from the date we receive each deposit until the day before you withdraw it.

We’ll credit the interest to your account on 1 January each year.

The interest rate is variable, which means it can change from time to time.

To find out the latest rate visit our website at nsandi.com or call us.

Interest is taxable, paid gross.

Taxpayers may need to declare the interest to HM Revenue and Customs (HMRC), depending on their circumstances.

We’ll send you a statement in January each year, showing how much interest you’ve received.

Who can apply?

Anyone aged 16 or over can apply for an Investment Account.

Can I hold an account in trust?

You can hold an account in your name but on behalf of someone else (called the ‘beneficiary’).

You’ll need a different application form to open an account in trust. Call us on 08085 007 007 and we’ll send you one.

Can I apply jointly?

You can open an account jointly with one other person.

You can combine your full allowance with the other account holder. This means that you can jointly invest up to £2 million.

We’ll send any correspondence to the first account holder named on your application.

NS&I Investment Account 3Call us on 08085 007 007Visit nsandi.comFind out more about NS&I:

Any questions? Tweet us @nsandihelp

What’s new?What if I live outside the UK?Can I apply for a child?

Keep it in the family

An Investment Account is a great way to help start the savings habit early for your child, grandchild or great-grandchild if they are under 16.

Who looks after the account?

When you apply, we’ll ask you to nominate one of the child’s parents or guardians to manage the account until the child’s 16th birthday. Only a parent, guardian, grandparent or great-grandparent will be able to open the account and make deposits for the child.

If you’re a grandparent or great-grandparent applying to open an account, we’ll send you an acknowledgement of your application. We’ll send all other correspondence to the nominated parent or guardian.

We may need proof

We’ll need to check the identity and address of everyone named on the application, including the child. So we may ask you to send us some documents.

Charges will be at the rate of your international phone provider.

Note that we no longer accept applications from US citizens and/or US residents for tax purposes.

nsandi.com

+44 1253 832007

You’ll need to check whether local regulations allow you to open an Investment Account.

If so, you’ll need to send us some documents with your application to prove your identity and address.

If you are resident for tax purposes outside the UK, you’ll also need to send us your Tax Identification Number and date and place of birth.

For full details:

Personal Savings Allowance

On 6 April 2016 HMRC introduced a tax-free Personal Savings Allowance of £1,000 on the interest you earn on your savings (or £500 for higher rate taxpayers). Find out more at nsandi.com/tax-and-savings

The interest you earn on your Investment Account counts towards your Personal Savings Allowance, together with any interest you earn from other taxable savings.

NS&I Investment Account 4

You can open your Investment

Account by post only with an

initial deposit of just £20.

Any time you would like to pay

money in, you can do it by post.

Or if you prefer you can set up

a standing order or electronic

transfer with your bank.

And you can take money out

any time by sending us a

withdrawal form by post.

31

Three ways to pay money in

By standing orderBy post By electronic transfer

Complete a deposit form and post it to us with a cheque for at least £20.

Make your cheque payable to National Savings and Investments and write your NS&I Investment Account number on the back.

We can also accept cheques made payable to the account holder(s).

We’ll then send you a transaction record to confirm that we’ve received your deposit. Keep this somewhere safe.

We’ll also send you another deposit form so that you always have one to hand when you need it.

Setting up a standing order is an easy way to save regularly without even having to think about it.

When your Investment Account is open, we’ll send you a standing order form.

You can also download and print one from our website at nsandi.com or call us and we’ll send you one.

Once you’ve decided how much (minimum £1) and how frequently you want to save, simply complete the standing order form and send or take it to your bank (don’t send it to NS&I).

If your bank handles electronic payments, you can ask them to make a transfer to your NS&I Investment Account.

Once your account is open, you can find details of how to do this at nsandi.com/investment-account

NS&I Investment Account 5Call us on 08085 007 007Visit nsandi.comFind out more about NS&I:

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Mr A N Other123 Any RoadAny TownAN1 2AB

Date issued1 May 2012

This record confirms the details of the most recent postal transaction on your account.

It also shows any other transactions made since the last record or statement we sent you.

Date Details

Money in Money out Balance

Balance from previous record

£1,000.00

1 May 12 Cheque deposit

£100.00

Totals

£100.00 £0.00

Balance carried forward

£1,100.00

Interest rateThe rate quoted is correct at the time of printing and is the rate that applied to your account

balance at that time. The interest rate is variable – you can check the current rate at any time

by visiting our website nsandi.comDefinitionsGross is the taxable rate of interest without the deduction of UK Income Tax.

AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid

and compounded once each year.

Page 1 of 1

National Savingsand InvestmentsGlasgowG58 1SB

www.nsandi.comHelpline 0500 007 007Account detailsAccount holder(s) A N Other

NS&I 000000001

B C Other

NS&I 000000002Account number 000000003Current interest rate 1.00% gross/AER

Your Investment Accountannual statement

Mr A N Other123 Any RoadAny TownAN1 2AB

Date issued1 May 2012

This record confirms the details of the most recent postal transaction on your account.

It also shows any other transactions made since the last record or statement we sent you.Date Details

Money in Money out Balance

Balance from previous record £1,000.00

1 May 12 Cheque deposit £100.00

Totals

£100.00 £0.00

Balance carried forward

£1,100.00Interest rateThe rate quoted is correct at the time of printing and is the rate that applied to your account

balance at that time. The interest rate is variable – you can check the current rate at any time

by visiting our website nsandi.comDefinitionsGross is the taxable rate of interest without the deduction of UK Income Tax.

AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid

and compounded once each year.

Page 1 of 1

National Savingsand InvestmentsGlasgowG58 1SB

www.nsandi.com

Helpline 0500 007 007

Account detailsAccount holder(s) A N Other

NS&I 000000001 B C Other NS&I 000000002Account number 000000003Current interest rate 1.00% gross/AER

Your Investment Accounttransaction record

Making a withdrawal from your Investment Account is also easy. Simply send us a form by post to take money out whenever you want, with no notice and no penalty. We’ll pay the money directly into your bank account or we can send you a warrant (like a cheque).

The minimum for each withdrawal is £1, and at least £1 must remain in your account for it to stay open.

How to take money out:

Example for illustration purposes

Your transaction records:

After each postal deposit or withdrawal we send you a record of your transaction. It will help you keep track of your savings throughout the year.

Your annual statement:

In January each year we send you a full statement that shows all your transactions, including the interest you’ve earned and any standing order or other electronic deposits you might have made.

Can I go online or call you?

If you are registered for our online and phone service you can also log in at nsandi.com or call us to check your balance. However, you can’t pay in or take out money online or by phone.

Taking money out

Complete a withdrawal form and send it to us by post.

Once we’ve received your completed form, your payment should reach you within a few days.

We’ll then send you a transaction record to confirm your withdrawal.

We’ll also send you another withdrawal form for the next time you want to take money out.

NS&I Investment Account 6

You want a straightforward savings account that you can use by post

You want easy access to your money

You want to open a savings account on behalf of your child, grandchild or great-grandchild

Right for you if:

You want a fixed rate of interest

You need a regular income from your savings

You want to manage your account online and by phone

You want to manage your account at a branch

Not for you if:

The table below will help you decide if an Investment Account is right for you.

Decisions, decisions

Here’s what happens next:

1 We’ll check your identity and address if we haven’t already done so. We normally do this electronically, but we may also ask you to send us some documents.

2 When we receive any documents we’ve asked for, we’ll send you a letter to confirm that your account is open.

Paying by cheque:

Applying for someone else?

If you want to apply in trust, or on behalf of someone else as a deputy or under a power of attorney, you’ll need to apply by post using a different form. Call us and we’ll send you the form you need.

Before you apply, please read the enclosed summary box and the terms and conditions.

Here’s how:

Complete an application form.

Make sure you have signed and dated it.

Post your completed form and cheque to us in the envelope provided.

Please take a note of your application reference number (shown in section 1 of the form) until you receive our confirmation. Quote the number if you need to contact us while we’re still processing your application.

Make your cheque payable to: National Savings and Investments

Write your application reference number on the back. You will find this number in section 1 of the form.

The cheque must be drawn on a UK bank or building society account in the applicant’s name.

Fill in the cheque details in the ‘paying by cheque’ section of the form.

We will bank your cheque as soon as we receive it, so please make sure you have enough money in your account when you apply.

NS&I Investment Account 7Call us on 08085 007 007Visit nsandi.comFind out more about NS&I:

Any questions? Tweet us @nsandihelp

Terms and conditions: 13 January 2018

Description1. These terms and conditions apply to the NS&I Investment Account, and explain the obligations we have to you, as a customer, and the obligations you have to us. Please read these carefully and keep for reference.2. Deposits into the Account are investment deposits in the National Savings Bank and are subject to the National Savings Bank Act 1971 and the National Savings Regulations 2015 as amended or re-enacted from time to time. In the event of any differences between these terms and conditions and the Regulations, the Regulations will prevail.Definitions3. In these terms and conditions:(a) “Account” means the NS&I Investment Account;(b) “banking day” means a day (other than a Saturday,

Sunday or bank or public holiday) on which banks are generally open for business in London, and, in relation to the processing of a payment, any other place of receipt;

(c) “Director” means the Director of Savings;(d) “NS&I” means National Savings and Investments.4. NS&I is both a government department and an executive agency of the Chancellor of the Exchequer. We provide finance for the government by offering savings accounts to personal customers. We act under the authority of the Director of Savings – a role created by law to carry out our business. Where we say ‘we’, ‘us’ or ‘our’, we mean NS&I acting under the Director’s authority.Interest5. All deposits accepted (see paragraph 23) will earn interest at a variable rate. The rate applicable to a particular Account at any time may depend on the balance in that Account. Both the rates, and the balances required to earn them, if applicable, may be changed from time to time in accordance with this section.6. The current rate(s) and the balances required to earn them, if applicable, are available:• on the NS&I website;• in our Interest Rates leaflet available from us;• in the London, Edinburgh and Belfast Gazettes; and• directly from us over the phone.7. The Treasury may choose to change the interest rate(s) which apply to your Account from time to time for various reasons, including:(a) to enable us to respond proportionately to a change in

the Bank of England’s base rate or any other publicly listed market rate;

(b) to enable us to respond proportionately to changes in the interest rates paid or charged by other banks and financial institutions;

(c) to reflect changes in the Government’s funding requirements;

(d) to reflect changes in the costs we reasonably incur in providing your Account;

(e) to reflect changes in the law or a decision by an ombudsman;

(f) to enable us to meet changed regulatory requirements; or

(g) to reflect changes in any codes of practice to which we subscribe.

8. We will give notice of any changes in the applicable interest rate(s) on your Account and/or the balances required to earn them in accordance with this paragraph. We will give advance notice of the change(s) by publishing adverts in a range of newspapers and by updating our website before the change is applied to your Account. If the change is in your favour, we will not notify you personally. However, if the change is detrimental to you, we will tell you personally at least two months before it takes effect and you can close your Account at any time without charge before it comes into effect if you do not agree with it. If you do not notify us before the detrimental change comes into effect, we will consider that you have accepted it.9. Subject to a minimum balance of £1, interest is earned on a daily basis on the closing balance for each day. The closing balance on any particular day will include all the deposits dated that day (see paragraph 24 and paragraphs 38 to 42 inclusive) less any withdrawals dated for that day (see paragraphs 48 and 50). Interest is earned at 1/365th of the annual rate for each day.10. Interest will be credited annually after close of business on 31 December and will include all interest earned for that year up to and including 31 December. The interest will then form part of the balance in the Account on and from the following day (1 January).Tax11. Interest will be credited to the Account without deduction of tax. However it is subject to UK Income Tax so Account holders may need to declare their interest to HM Revenue & Customs, depending on their circumstances.Who may, and may not, open an account?12. Accounts may be opened in accordance with paragraphs 13 to 19, unless a limitation applies (see paragraph 20).13. Individuals If you are an individual of at least 16 years of age, you may open an Account in your own name.14. Joint Accounts If you are an individual of at least 16 years of age, you may open an Account jointly with one other individual of at least 16 years of age.15. You may hold more than one Account in either or both individual and joint capacities.16. Children A child under 16 years of age cannot open an Account. Accounts may be opened for a child under 16 years of age to be held in the name of, and as the property of, the child, in accordance with paragraphs 63 to 70.17. Trustees If you hold money on trust for one or more persons, you may (whether you are an individual or not) open an Account in your capacity as a trustee either:(a) by yourself; or(b) jointly with one or more other trustees.18. Where there are more than two trustees, we may require all such trustees acting jointly to nominate no more than two of their number to manage the Account.

19. Deputies If you are legally entitled to make investments on behalf of a person who lacks capacity, you may open an Account on behalf of and in the name of that person.20. General limitations Accounts cannot be opened by:(a) a person who is either a US citizen and/or

a US resident for tax purposes;(b) a person who is an undischarged bankrupt;(c) a person who is 16 years of age or older and

operates under a legal disability; or(d) one person on behalf of another, unless: (i) the application is made in accordance with

paragraphs 14, 16 and 19; or (ii) the applicant is acting under a valid power

of attorney.How to open an account21. An application to open an Account must be made by post to NS&I.22. The opening deposit must be made by personal cheque drawn on a UK £ sterling bank or building society account held by you, a building society branch cheque or banker’s draft or by postal order.23. In all cases, an application to open an Account is subject to acceptance by us.24. Once an application is accepted, the date of opening your Account and of the opening deposit will be the date that NS&I received your application and deposit.25. You will receive confirmation that your Account has been opened by post, including the date of opening and details of the opening deposit. The date we open your Account will be the date on which your agreement with us begins, and it will continue until it is terminated by you or us in accordance with these terms and conditions.26. Where the Account is held jointly any correspondence, including the confirmation that the Account has been opened and transaction records, will be sent to the holder named first on the application to open the Account.Evidence of identity27. We are required to verify the identity and address of our customers before we can accept an application to invest. To do this we may make electronic checks with a credit reference agency. When you apply to invest with us, you confirm that you, and anyone else named on the application, are aware that your and their identity and address will be checked.28. When applying to invest or at any time, we may also request documentary evidence of your identity, address and/or source of funds. Our request will let you know by when you need to send us the documents. If we don’t receive your documents within that time, we will not be able to process your application. We may also request documentary evidence directly from any other person named in the application. We accept no responsibility for documents which are lost in the post, or affected by postal delays. Proof of posting will not be accepted as proof of delivery.29. Where we can’t accept your application in these circumstances (paragraphs 27 and 28), we will cancel it and refund the money by electronic transfer or by issuing a crossed warrant (like a cheque). However, we reserve the right to use another method for payment if necessary. No interest is earned or paid for the intervening period.

Cooling off30. If you are not happy with your choice of Account, you have 14 days from the date you receive confirmation of your investment within which to cancel your Account. To cancel your Account you must notify us in writing (by post or by email) or by telephone, using the details in paragraph 101.31. If you cancel your Account, we will return all the money in your Account to you and any interest it has earned. If you do not cancel your Account, you will remain bound by these terms and conditions until your Account is closed.Deposits into your Account – limitsMinimum deposit32. The minimum amount that may be deposited at any one time:• for cheques, postal orders and bankers’ drafts is £20

(and the first deposit into an Account must be made in this manner (see paragraph 22)); and

• for electronic transfers is £1.33. Subject to the maximum investment limits (see paragraph 34), and any limitations imposed by your or our banking service provider, a deposit may be made for any amount equal to or more than the minimum.Maximum holding limits34. Each individual may hold a maximum of £1,000,000 in Accounts regardless of how many such Accounts they hold, and whether such Accounts are held in an individual or joint capacity. The trustees of any trust may hold no more than £1,000,000 of the trust money in accounts.35. If the maximum holding limit is reached no further deposits may be made, but interest will continue to be added each year. 36. For the purpose of the maximum holding limit: (a) where an Account is held in joint names, half of the

balance in the Account will count against each holder’s personal holding limit. This limit will not prevent the transfer into a holder’s name of an amount inherited from another investment deposit account with us;

(b) any amounts held by a person in their capacity as a trustee will be treated separately from any amounts held by that person in their personal capacity.

Deposits into your Account – procedure37. All deposits into the Account must be in £ sterling, drawn on a bank or building society in the UK.Deposits by post38. You may deposit cheques, bankers’ drafts and postal orders by post. You will need to send the payment, together with the deposit form, available from us and online at nsandi.com, by post to us. For interest purposes the date of deposit will be the date your payment and form are received by us. 39. Deposits sent to us by post will not be accepted without a completed deposit form. Cheques, bankers’ draft and postal orders received without a fully completed deposit form will not be credited to your Account, and will be returned to you where possible.40. The amount of any cheque deposit will be available for withdrawal from the seventh banking day. For example if we receive your cheque and deposit form on a Monday, your payment will be cleared on the Tuesday of the following

NS&I Investment Account 8

week. Allow one additional day for each English bank or public holiday. Clearance times on other types of deposits may vary.Deposits by electronic transfer 41. You can save regularly by setting up a standing order with your bank or building society. You can also make individual deposits (other than the first deposit into an Account) by electronic transfer if your bank or building society offers such a facility. For interest purposes the date of such deposits will be the date the funds are received in the Director’s account and will be available for withdrawal from the following banking day. Exceptional circumstances42. In certain circumstances where it is required by law, or where circumstances arise beyond our control, the deposit into your Account may be prevented or may take longer than the time periods set out in paragraphs 38, 40 and 41.Payments out of your Account – limits43. Funds are only available for withdrawal after your deposit has cleared. The time taken for deposits to clear is detailed in paragraphs 40 and 41. 44. The minimum amount that may be withdrawn is £1.45. Withdrawals will only be permitted to the extent that they will not reduce your balance to less than £1. If you wish to make a withdrawal that will take your balance below £1, you will need to close your Account.Payments out of your Account – procedure46. You can give us instructions to make withdrawal payments from your Account by completing a withdrawal form, available from us and online at nsandi.com, and sending it by post to us. No notice is required. We will treat you completing and signing this form as you giving us your consent to make the withdrawal payment. We cannot change or cancel a withdrawal payment instruction given by you because we start processing it when we receive it.Payments by electronic transfer47. We will make withdrawal payments that you instruct us to make out of your Account under paragraph 46 by electronic transfer to a UK bank or building society account in your name that is capable of receiving electronic transfers (but see paragraph 65 in the case of withdrawals in respect of children’s Accounts). You must provide us with the sort code and account number for the UK bank or building society account into which you want withdrawal payments to be paid. You must check these details are correct before submitting them to us as we will use them to process any withdrawal payment. 48. We will normally initiate an electronic transfer within three banking days of receiving your instructions. If we receive your instructions:• after 1:00pm on a banking day; or • on a Saturday, Sunday or bank or public holiday

in London,your instruction will be treated as being received by us on the next banking day. The withdrawal payment will normally reach your account by the second banking day after the day on which we initiate the electronic transfer49. Where an electronic transfer is initiated properly we will not be liable for any failure or delay in any part of the

electronic transfer process which is beyond the Director’s direct control, including any failure which occurs because the specified account is incapable of receiving an electronic transfer.Payment by crossed warrant50. Withdrawals may be paid by crossed warrant sent to you at your address or directly to a nominated bank or building society for credit to an account in your name(s). The date of withdrawal will be taken to be the date on the warrant.Transfers51. You may be able to transfer funds into your Account from your existing NS&I savings and investments. You may also be able to transfer funds from your Account to other NS&I savings and investments. We will provide you with details when you ask us to.Repaying deposits and closing your Account52. We can close your Account immediately where:(a) deposits have been made otherwise than in accordance

with the National Savings Bank Regulations 2015;(b) we reasonably think you (or in the case of a joint

Account, one of you) have provided false information;(c) we reasonably suspect that your Account is being used

for an illegal purpose;(d) any declaration or information that we require in

relation to you or one of the other Account holders is not received within a reasonable period of time after it is requested;

(e) the balance of your Account falls below the minimum balance needed to retain your Account; or.

(f) we have any other valid reason to do so.53. We can also close your Account at any time by giving you at least two months’ advance personal notice.54. You can close your Account at any time, for any reason, without charge by notifying us in writing.Giving us instructions55. Instructions relating to your Account can only be given by post.56. We may refuse to act on your instructions (including an instruction to make a withdrawal payment) if:(a) we reasonably believe that you did not give us the

instruction; or(b) we reasonably suspect fraudulent activity in relation

to the Account; or(c) your instructions are unclear, incomplete or not in the

required form; or(d) in carrying out these instructions, we might be required

to act contrary to a law, regulation, code or other duty which applies to us; or

(e) it would cause you to exceed any limit or restriction which applies to your Account; or

(f) we have any other valid reason for not acting on your instructions.

57. If we refuse to act on your instructions, we will let you know and, if possible, give our reasons in writing or by telephone (except where we are prevented from providing a notification for legal reasons). You can obtain further information about the refusal and, where appropriate, our reason(s) for refusing, along with information on how to

correct any errors that led to the refusal, by contacting us using the details in paragraph 101 (unless we are prevented by legal obligation, or certain other limited circumstances beyond our control from providing you with this information).Joint accounts 58. Where an Account is held jointly:(a) the Account will be the joint property of both holders;(b) in the event of the death of a joint holder full ownership

of the Account will pass to the survivor who will be entitled to operate the Account on the same terms;

(c) if a holder tells us of a dispute, we may freeze the Account until we receive written instructions from both of you. The Account will continue to earn interest.

59. Where the Account is to be held jointly by two individuals, the applicants will need to specify whether withdrawals are to be authorised by both holders together, or by either one of them acting alone. Note that the facility for any one party to authorise withdrawals can be cancelled by either holder. 60. Where the Account is held jointly, all correspondence will be sent to the holder named first on the application to open the Account. 61. Where an Account is held jointly and the holders have decided to allow either holder to authorise withdrawals (see paragraph 59), either holder may make withdrawals, including closure of the Account, independently of the other joint holder.62. Upon the application of both holders, or the survivor of them, we may remove the name of any person from the title of the Account.Children under 16 years63. Accounts may be opened, and deposits may be made, on behalf of and in the name of a child under 16 years of age by their parent, grandparent, great-grandparent, guardian or deputy (see paragraphs 16 and 19). An acknowledgement of the deposit will be sent to the person nominated to manage the Account on behalf of the child.64. Any application to open an Account on behalf of a child must nominate a person who is responsible for the welfare of the child (normally a parent or guardian) to manage the Account on behalf of the child. Until the child reaches 16 years of age, the nominated person will receive communications and may give instructions on behalf of the child. However, we may exceptionally communicate with and accept instructions from another person who is responsible for the welfare of the child where we consider it appropriate to do so. 65. Payments will normally be made by electronic transfer to a bank or building society account in the name of the nominated person, or by crossed warrant made payable to the nominated person. In order to make any such payment by electronic transfer, we need to have the sort code and account number for the bank account of the nominated person who is to receive the payment.66. When a child reaches 16 they will have responsibility for managing their Account. We will ask for their signature when they first transact with us after reaching 16. We may also ask for evidence of identity at this stage (see paragraphs 27 to 29).

67. A child may have multiple Accounts and each may be managed by a different nominated person. 68. The maximum investment limit referred to in paragraph 36(a) applies to the total of the deposits made in all of the Accounts held by a child, regardless of who has responsibility for managing those Accounts. For the purpose of the maximum investment limits, a child’s Account is treated separately from any Account held by the nominated person in their own name.Accounts opened prior to 21 May 201269. Where an Account was opened for a child pursuant to an application received prior to 28 November 2011, and the child is under the age of 7 on 21 May 2012, the Account will need to be managed by a person with responsibility for the welfare of the child until that child reaches 16 years of age. This person can be nominated at any time. Please contact us for details how to do this. No withdrawals can be authorised without a responsible person being nominated.70. Where an Account was opened for a child pursuant to an application received prior to 28 November 2011, and the child is at least 7 years of age on 21 May 2012, paragraph 64 will not apply and the child will be able to manage the Account as if they were 16 years of age. Although not required to do so, a child holding such an Account will be permitted to request that payment be made to a person responsible for their welfare.Statements and transaction records71. We will send you a statement annually showing all transactions for the previous year ending on 31 December. The statement will include details of all transactions and interest added to the Account.72. You can request, at any time, an interim statement of all transactions on your Account. This statement will include all transactions since 1 January immediately preceding its issue.73. You will receive a transaction record every time you make a deposit in accordance with the “Deposits into your Account – procedure” section or a withdrawal. The transaction record will confirm the details of the transaction that has taken place and your balance immediately following that transaction.74. Where an Account is held jointly, the statements, transaction records and correspondence will be sent to the holder named first on the application to open the Account.75. You are responsible for checking the information we give you and must tell us as soon as you can if it includes something which appears to you to be wrong or if a payment was not made in accordance with your instructions.Liability76. If you believe there has been a payment from your Account which was not authorised by you, or you believe a payment you have instructed us to make has been not been made properly, you should notify us without undue delay using the contact details in paragraph 101.Unauthorised payments77. If you tell us that a payment from your Account was not authorised by you, we will carry out an investigation. As soon as we are reasonably satisfied that you did not authorise the payment, we will refund the amount deducted and will return your Account to the position that it would have been

NS&I Investment Account 9Call us on 08085 007 007Visit nsandi.comFind out more about NS&I:

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in if the unauthorised payment had not taken place. This means that, in addition to the amount of the unauthorised payment, we will pay any interest on the amount incorrectly paid but we will have no further liability. We will not be liable to restore your Account if you have acted fraudulently. Transactions made incorrectly 78. Where you instruct us to make a withdrawal payment and we don’t do so, or we make it incorrectly, we will without undue delay refund to you the amount of the withdrawal payment (if the payment has been debited from your Account) and any charges you have paid and pay to you any interest you would have earned so that it is as if the withdrawal payment had not taken place (except where you have provided us with the wrong sort code and account number for the account into which you wanted the withdrawal payment to be made, or we can show that the funds were received into the account you instructed us to make the withdrawal payment to).79. Where we fail to credit funds that we receive for you to your Account in accordance with the ‘Deposits into your Account – procedure’ section above, we will immediately credit the corresponding amount to your Account (so that it is as if you received the funds when you should have done) and immediately make available the relevant amount to you. 80. Where a withdrawal payment you have instructed us to make has been made incorrectly, we will, if you ask us to, immediately, and without charge to you, make efforts to trace the incorrectly made withdrawal payment and tell you the outcome.81. Where we make a withdrawal payment using the sort code and account number you provided for the account into which you wanted the withdrawal payment to be made, and the sort code and/or account number is incorrect, we will not have any liability for the withdrawal payment not being made or being made incorrectly. We will however make reasonable efforts to recover the funds involved in the payment. If we are unable to recover the funds we will, on receiving a written request from you, provide you with all of the available relevant information we have so you can file a legal claim for repayment of the funds (except where it would be unlawful for us to provide this information).82. Where funds are paid into your Account by mistake, we can take them back and return them to the payer. You agree to notify us if you receive any funds into your Account by mistake. If we are unable to recover the funds from you, we may be required to provide the payer with all relevant information to assist them in collecting the funds from you (and such information may include your personal information).Fraud and security threats 83. We will contact you by telephone or by post if there are suspected or actual fraud or security threats related to your Account.

How we use your information84. We may use any information you give us about yourself and others to:(a) manage your account(s) and investment(s);(b) prevent and detect crime and fraud;(c) develop and improve our services through assessment

and analysis of your information;

(d) conduct market research and product analysis;(e) provide you with marketing material, which may be

tailored to your individual needs, when we have your permission to do so;

(f) carry out regulatory checks to meet our legal obligations;(g) create aggregated and anonymised data for internal use

(we won’t be able to identify individuals from this data);(h) receive regular feeds from credit agencies relating to

information they have gained or assumed about you and your lifestyle.

85. We treat all information we hold about you as private and confidential. We will not reveal any personal details or details concerning your investments to anyone not connected with NS&I, unless:(a) you have given your permission to do so;(b) we are required or permitted to do so by law;(c) it is required by credit reference and fraud prevention

agencies to verify your address, identity or source of funds;

(d) it is required by our service providers and agents (including their subcontractors) to administer your account;

(e) there is a duty to the public to reveal the information.86. If you are a joint applicant, we will pass your information to the other joint applicant. When you give us information about another person, you need to confirm that you have been appointed to act on behalf of that other person. This includes providing consent to process that other person’s data as set out in these terms and conditions.87. We may monitor or record telephone calls for training, quality assurance and other business purposes.88. The NS&I website and emails use cookies to collect anonymous data in order to administer the website. It is possible to set internet browser software so as to disable the use of cookies. Please note however that application forms and other processes require the use of cookies for correct operation.89. From time to time we may change the way we use customers’ information. Where we believe that customers may not reasonably expect such a change we will let you know by your chosen method, for example by post or email. If you do not object to the change within 60 days of letting us know, we will consider you to have agreed to that change.90. Customer information will be held by us in both paper form and on our IT systems. Information about you will be kept after your Account is closed in line with our retention procedures. If you would like a copy of the information we hold about you, you can make a Data Subject Access Request under the Data Protection Act. Please write to: The Data Protection Officer, National Savings and Investments, 1 Drummond Gate, London, SW1V 2QX. Please sign your request and include your full name, address (current and previous), which account(s) you hold and the account number(s). There may be a small charge for this service – if so, we will let you know. 91. We would like to keep you up to date with information about our products and services which we think might interest you. If you do not want to receive this information, you can contact us using the details in paragraph 101.

92. We may send your data outside of the European Economic Area. However, we will ensure it is processed and handled in line with the UK Data Protection Act 1998.How to notify us of changes to personal details 93. So that we can manage and protect your Account and communicate with you safely and quickly (for, example if we suspect fraud) please let us know straight away if any of these change: • your name;• nationality;• address (including if you move abroad);• signature;• telephone number (including mobile);• email address.Please use the details in paragraph 101 to notify us of any such changes.Complaints94. If we make a mistake, we’ll aim to put things right quickly and without fuss, and we have a procedure designed to resolve complaints effectively and fairly. You can make a complaint by calling us free on 0800 092 1286, by visiting nsandi.com or by writing to our Customer Care Team at the address in paragraph 101. A leaflet describing our complaints procedure is available on request or you can download one at nsandi.com95. If you feel that we have not resolved your complaint to your satisfaction, you may be able to refer it to the Financial Ombudsman Service, an organisation set up by law to give consumers a free and independent service for resolving disputes. You can call them on 0800 023 4567 (calls to this number from the UK are free). You can also visit financial-ombudsman.org.uk or write to them at Exchange Tower, London E14 9SR. Or, if you invested with us online, you can refer your complaint via the Online Dispute Resolution (ODR) website, set up by the European Commission to help consumers resolve disputes with companies within the EU. Visit https://webgate.ec.europa.eu/odrChanges to these terms and conditions96. We may change these terms and conditions at any time. Subject to paragraph 97, where we decide to make a change we will tell you personally about the change at least two months before the change takes effect. When we notify you of a change, you can close your Account at any time without charge before the change takes effect if you do not agree with it. If you do not notify us by then, we will consider that you have accepted the change. This paragraph does not apply to favourable changes to the interest rate(s) applicable to your Account, which will be made in accordance with paragraph 8.97. We may make changes to these terms and conditions on less than two months’ notice where we need to do so to comply with applicable law or regulation. Customers with special needs98. Some of these terms and conditions may not apply if we have agreed changes with you in order to make your Account more accessible. If so, any differences will be agreed with you individually.

Regulations99. The Regulations (and Acts) listed in paragraph 2 can be accessed at www.legislation.gov.ukLanguage100. Our agreement with you is concluded in English and our communications with you in relation to your Account will be in English. Contacting each other 101. You can contact us by writing to us or calling us using the details below: NS&I Investment Account National Savings and Investments Glasgow G58 1SB Telephone 08085 007 007 Visit our website nsandi.com 102. We will contact you by writing to you (by email, letter or via our online service) or calling you using the contact details that you give us.Law and jurisdiction103. These terms and conditions, any non-contractual obligations arising out of them and any agreement made on the basis of them will be governed by and interpreted in accordance with English law.104. In the event of the death of the last surviving holder, we reserve the right to make payment in accordance with the law of the place in which the Account holder resided or, if different, was domiciled at the date of their death.105. Subject to paragraphs 106 and 107, the courts of England are to have exclusive jurisdiction to settle any dispute (including claims for set off and counterclaims) which may arise in connection with these terms and conditions (including in relation to any non-contractual obligations) or any agreement made on the basis of them and which, subject to the Regulations, falls to be determined by a court of law.106. Where section 16 of the Civil Jurisdiction and Judgments Act 1982 applies the relevant court of law of the relevant part of the United Kingdom shall have jurisdiction to settle any such dispute.107. Paragraphs 105 and 106 are included for our benefit. Accordingly we retain the right to bring proceedings in any other court which has jurisdiction to whose jurisdiction the Account holder irrevocably submits.Obtaining a copy108. We will provide you with a copy of these terms and conditions and any of the information referred to in them at any time during our relationship on request. You can also find the terms and conditions on our website nsandi.com National Savings and Investments. Head office: 1 Drummond Gate London SW1V 2QX 13 January 2018PLEASE KEEP FOR REFERENCE

NS&I Investment Account 10

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NS&I Investment Account 11Call us on 08085 007 007Visit nsandi.comFind out more about NS&I:

Tweet us

@nsandihelp

Call us

08085 007 007

nsandi.com

NS&I, Glasgow G58 1SB