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Investment Account

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Straightforward savings by post with easy access to your money

Investment Account: facts and figures

  • Rate 0.45% gross/AER
  • Access No notice, no penalty
  • Tax Taxable, paid gross

Suitable for savers who want:

  • a straightforward savings account by post
  • easy access to their money
  • a savings account on behalf of their child or grandchild

Not for savers who:

  • want a fixed rate of interest
  • need a regular income from their savings
  • want to use their account online and by phone
  • prefer to use their account at a branch

Opening an Investment Account

Summary box

Account name

NS&I Investment Account

What is the interest rate?

0.45% gross/AER

We calculate the interest daily and add it to your account each year on 1 January.

Can NS&I change the interest rate?

Yes - the rate is variable so we can change it up or down from time to time, for example when the Bank of England base rate changes or when rates in the general savings market change. See paragraph 7 of the terms and conditions for more details.

We’ll give advance notice of any rate changes by publishing adverts in a range of newspapers and by updating our website. When the rate is going down, we’ll also contact you personally in advance to let you know.

What would the estimated balance be after 12 months based on a £1,000 deposit?

A £1,000 deposit would be worth £1,004.50 after 12 months, if the current interest rate stays the same.

This is an illustration only, so it doesn’t take into account your individual circumstances. It assumes that you don’t make any withdrawals or additional deposits during the year.

How do I open and manage my account?

Our Investment Account is for customers aged 16 or over. You can open an account in your own name or jointly with one other person. An account can also be opened for a child under 16 by their parent, guardian, grandparent or great-grandparent. You can also invest in trust for someone else.

You can:

  • apply for, and manage, an Investment Account by post only
  • open an account with at least £20, paid by personal cheque drawn on a UK bank account in your name
  • hold up to a total of £1 million per person in Investment Accounts

If you want to switch to an Investment Account from another NS&I account or investment:

Download an application form

Call us

Can I withdraw money?

Yes, you can take out money by post with no notice or penalty. You just need to keep a balance of at least £1 to keep your account open

Additional information

We pay your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance.

Find out more about tax and savings

We’ll send you a statement in January each year, showing all your transactions and interest.

Definitions

Gross is the taxable rate of interest without the deduction of UK Income Tax.

AER (Annual Equivalent Rate) illustrates what the annual rate of interest would be if the interest was compounded each time it was paid. Where interest is paid annually, the quoted rate and the AER are the same.

Using your account

Using your account

You can only use your Investment Account by post.

When you make a cheque deposit or withdrawal, we’ll send you a record of your transaction. We’ll also send you a statement every January showing you all your transactions, plus your interest.

  • Paying money in and taking it out

    Pay in by standing order, bank transfer or cheque. All your deposits must be from a UK bank account in your own name.

    Standing order

    Give your bank our payee details:

    Payee name: NS&I
    Account number: 11994808
    Sort code: 08 31 30

    You must quote your Investment Account number as the reference, so that the payment reaches the right account.

    Tell the bank how much you want to pay, when and how often.

    Or

    Print and complete a standing order form and give it to your bank

    To cancel, contact your bank – not NS&I.

    Bank transfer

    You can make one off deposits by bank transfer. Give all the above details to your bank and tell them how much you want to pay. For large amounts, check your bank’s upper limit for electronic payments.

    Post a cheque

    Complete a deposit form and send it to us with your cheque (minimum £20).

    Print and complete a deposit form

    Take money out

    The minimum you can withdraw is £1 and at least £1 must remain in your account to keep it open.

    Complete a withdrawal form and send it to us. We’ll pay the money into your nominated bank account. Or you can ask us to send you a warrant (like a cheque).

    Print and complete a withdrawal form

    We’ll send your payment within three working days.