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What happens at maturity?

We’ll write to you about two weeks before your Bond reaches the end of its term to let you know your options. With your letter we’ll include:

You can then choose to:

If you don’t reply to us by the end of the term, your Bond will start earning interest at the new guaranteed rate on offer for a further term of the same length. Please note that if you cash in your Bond after it has been reinvested, the normal 90-day penalty will apply.

If NS&I Guaranteed Growth Bonds are no longer on sale when your Bond matures, we will write to offer you an alternative.

Frequently asked questions about maturing Bonds

My Guaranteed Growth Bond is about to mature - what happens now?

When your Bond reaches the end of its term, you have three choices:

1. Keep it invested: if you want to keep your Guaranteed Growth Bond for another term of the same length, you don’t need to do anything; we'll arrange it for you. Your Bond will automatically start earning the new guaranteed rate of interest quoted in your letter. Your current certificate of investment remains valid, so we won’t send you a new one – simply keep your letter with the certificate as a record of the new rate.

2. Reinvest in a different term of Guaranteed Growth Bonds: you can reinvest all or part of your money into a different term. If you reinvest you are buying a new Bond, so we will invest your money in the Issue that is on sale at the time. To reinvest just complete the form enclosed with your letter and return it to us before the maturity date. Remember to enclose your certificate of investment.

• Check the interest rates of the Issues currently on sale

3. Cash in your Bond. Just complete the form enclosed with your letter and return it to us before the maturity date. Remember to enclose your certificate of investment.

I went on holiday and I opened the letter on my return but my Bond had already matured. What happened to my money and what should I do now?

Don’t worry, your money is still safe with us. It has automatically started earning interest at a new fixed rate for a further term of the same length.

What are the benefits of keeping my  money invested for a further term of the same length?

It’s easy – you don’t need to do anything. At the end of the term we’ll make sure your Bond starts to earn the new guaranteed rates of interest shown in your letter – even if the interest rates on offer for Guaranteed Growth Bonds fall in the meantime. However, if the rates on offer go up between the date of your letter and the end of your Bond’s term, we promise to pay you the higher rates.

Can I keep just part of a Bond invested?

Yes. If you keep part invested, you can then cash in the other part or reinvest it into a different term or another NS&I investment. We’ll send you a replacement certificate of investment showing the original date of purchase and the amount of capital still invested. The balance remaining in your Bond will earn the new guaranteed rate shown in your letter.

The amount cashed in or reinvested will be made up of capital plus the interest it has earned.

What if I need to get hold of my money later?

You can cash in all or part of your Bond at any time, but a 90 days interest penalty applies if you cash in before the end of an investment term.

If I decide to cash in before the end of the term, when can I expect to receive my money?

We’ll aim to process your payment within two working days of receiving your instruction (at busy times this may take a little longer). Please also remember to allow time for your bank or building society to clear the payment to your account.