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National Savings
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Bonds carrying a UK government guarantee of both their principal and interest. They may be for fixed sums of money, or index-linked to the retail price index. National Savings and Investments is a UK institution providing safe securities for individuals to hold. These are widely held: they provide a return which is completely safe, but on average somewhat lower than that on other investments. The amount of National Savings bonds any individual can hold is restricted.
Reference: Oxford Press Dictonary of Economics, 5th edt.
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