Guaranteed Growth Bonds (British Savings Bonds)

Essentials at a glance

What's the interest rate?

Issue 71: 4.15% gross/AER, fixed for 3 years

Can I take money out?

No, you cannot take money out until the Bond reaches the end of its term

Is the interest taxable?

Yes, in the tax year your Bond matures

How much can I start with?

£500 for each Bond you buy

What’s the max. I can save?

£1 million per person in this Issue

Great for you if …

• You want a guaranteed interest rate, fixed for 3 years
• You have £500 or more to invest
• You are happy to invest online

Not for you if …

• You want access to your money during the term
• You prefer to invest by phone or by post

Guaranteed Growth Bonds FAQs

• Why are these Bonds also called 'British Savings Bonds'?

  In the Spring Budget 2024 the Chancellor of the Exchequer announced that he wanted to help encourage people to save for the longer term with two 3-year Bonds from NS&I. He referred to ‘British Savings Bonds’ as an umbrella term for the two Bonds on offer, which are Guaranteed Growth Bonds and Guaranteed Income Bonds.

• I cannot invest online, what do I do?

  Issue 71 of our Guaranteed Growth Bonds is designed to be invested in online. However, if you can’t invest online, please call us and we’ll let you know your options.

  Call us

  Learn more about getting extra support

• Can I top-up a Guaranteed Growth Bond I’ve already bought?

  No, once you’ve bought a fixed-term Bond, you can’t add any more money to it.

  You can buy more Bonds though if they are still on sale, up to a total value of £1 million per person in the current Issue.

  Each Bond you buy is a separate investment with its own maturity date.

• Will I be able to access my money early?

  No. Once you invest, you won’t be able to access your money until your Bond reaches the end of its term, but in return you’ll be guaranteed a fixed rate of interest for the term.

• Will I have to pay tax on my savings?

  The interest you earn on Guaranteed Growth Bonds will count towards your taxable income in the tax year your Bond matures. But this doesn’t mean you’ll have to pay tax on it. It all depends how much interest you earn in total and what rate of tax you pay. You can find out more in our Help section.

  Paying tax on your savings

• Can I invest jointly?

  Yes. We’ll ask you as part of your application if you’d like to invest with someone else. You’ll each get your own log-in details so you can both view and manage your Bond.

• Can I move money from another NS&I account to buy a Guaranteed Growth Bond?

  Yes. If you have an NS&I Direct Saver, you can apply online for a Guaranteed Growth Bond and pay for it from your Direct Saver.

  If you want to use another NS&I account to pay for your Guaranteed Growth Bond, you'll need to complete a switching form.

  Form to switch to a Guaranteed Growth Bond

• What if I change my mind?

  If you change your mind after you invest, you can cancel within 30 days of receiving confirmation of your Bond. You can do this online or by phone, or you can write to us.

  We'll refund your money, plus any interest earned, within 14 days of cancellation.