Tesco and NS&I join forces

TESCO AND NS&I JOIN FORCES

Article date: 12/09/2005 : 17:12:57

National Savings and Investments (NS&I) Premium Bonds and inflation-beatin savings accounts will be available in over 500 Tesco stores by 2006 after NS&I signed a contract allowing Tesco Personal Finance to market its products.

NS&I has around 26 million customers with £69 billion invested and around 50 Tescos stores will be distributing NS&I leaflets by the end of 2005.

Customers at the supermarket chain will be able to pick up leaflets on Premium Bonds and inflation-beating Index-linked Savings Certificates, both of which are tax-free products.

Both products will be available by post, telephone or Internet and NS&I is hoping to achieve sales through Tesco's access to over 15 million customers a week.

Commenting on the deal, Alan Cook, NS&I chief executive, said: "This marketing partnership will make it even more straightforward, convenient and easy for people to find out about our savings and investments. It means we have an additional retail channel to work alongside our strong and long standing partnership with the Post Office.

"This is an exciting time in NS&I's development and means we can reach a wider audience in Tesco stores across the country."

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