Downloads and forms

Direct ISA

0.90% tax-free/AER

We calculate the interest daily and add it to your account once a year on 6 April.

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 the customer agreement (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.

A £1,000 deposit would be worth £1,009.00 after 12 months, if the current interest rate stayed the same during the 12 months.

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.

Our Direct ISA is a cash ISA for customers aged 16 or over who are resident in the UK for tax purposes. You can open an account in your own name only

You can:

• Apply for, and manage, a Direct ISA online or by phone only
• Open an account with at least £1, paid by a debit card in your own name, issued by a UK bank
• Pay in up to £20,000 in the 2019/20 tax year

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

Our Direct ISA is not a flexible ISA. This means that all your deposits within the tax year will count towards your allowance, whether or not you make any withdrawals.

The interest you earn is tax-free, so it won’t count towards your Personal Savings Allowance.

Find out more about tax and savings

Bear in mind that the tax advantages you receive from ISAs depend on your individual circumstances and may change in the future.

We’ll send you an electronic statement in April each year, showing all your transactions and interest. Or you can receive your statements by post if you prefer.

We don’t currently accept transfers from other providers into our Direct ISA.

Tax-free means the interest is exempt from 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.

NS&I Direct Saver

1.00% gross/AER

We calculate the interest daily and add it to your account once a year on 1 April.

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 the customer agreement (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.

A £1,000 deposit would be worth £1,010.00 after 12 months, if the current interest rate stayed the same during the 12 months.

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.

Our Direct Saver is for customers aged 16 or over. You can open an account in your own name or jointly with one other person.

You can:

• Apply for, and manage, a Direct Saver online or by phone only
• Open an account with at least £1, paid by a debit card in your own name, issued by a UK bank
• Hold up to a total of £2 million per person in Direct Saver accounts

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

We add 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 an electronic statement in April each year, showing all your transactions and interest. Or you can receive your statements by post if you prefer.

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.

NS&I Direct Saver

1.00% gross/AER

We calculate the interest daily and add it to your account once a year on 1 April.

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 the customer agreement (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.

A £1,000 deposit would be worth £1,010.00 after 12 months, if the current interest rate stayed the same during the 12 months.

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.

Our Direct Saver is for customers aged 16 or over. You can open an account in your own name or jointly with one other person.

You can:

• Apply for, and manage, a Direct Saver online or by phone only
• Open an account with at least £1, paid by a debit card in your own name, issued by a UK bank
• Hold up to a total of £2 million per person in Direct Saver accounts

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

We add 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 an electronic statement in April each year, showing all your transactions and interest. Or you can receive your statements by post if you prefer.

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.

Junior ISA

3.25% tax-free/AER

We calculate the interest daily and add it to your account once a year on 6 April.

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 the customer agreement (terms and conditions) for more details.

A £1,000 deposit would be worth £1,032.50 after 12 months, if the current interest rate stayed the same during the 12 months.

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

Our Junior ISA is for children aged under 18 who live in the UK. (Children under 18 who live outside the UK can only hold a Junior ISA if they are a UK Crown servant, or married to or in a civil partnership with a UK Crown servant, or a dependant of a UK Crown servant.)

For children aged under 16, only their parent or legal guardian can open an account. Children aged 16 or 17 can open their own account, or their parent or legal guardian can open it for them.

You can:

• Apply for, and manage, a Junior ISA online only
• Open an account with at least £1, paid by a debit card in your own name, issued by a UK bank
• Pay in up to the maximum Junior ISA allowance each tax year (£4,368 for 2019/20)

No, you can’t withdraw money from any Junior ISA – they are designed as long-term savings accounts to build up a nest egg for the child when they reach 18. (The only exceptions are if the child dies or has a terminal illness.)

On the child’s 18th birthday, we’ll automatically transfer the money to an adult cash ISA from NS&I. The child will then be able to withdraw money. We’ll contact the person who looks after the account about a month before the transfer happens.

The interest earned is tax-free, so it won’t count towards the child’s Personal Savings Allowance.

Find out more about tax and savings

We’ll send you an electronic statement in April each year, showing all your deposits and interest earned.

Tax-free means the interest is exempt from UK Income Tax.

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.

Junior ISA

3.25% tax-free/AER

We calculate the interest daily and add it to your account once a year on 6 April.

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 the customer agreement (terms and conditions) for more details.

A £1,000 deposit would be worth £1,032.50 after 12 months, if the current interest rate stayed the same during the 12 months.

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

Our Junior ISA is for children aged under 18 who live in the UK. (Children under 18 who live outside the UK can only hold a Junior ISA if they are a UK Crown servant, or married to or in a civil partnership with a UK Crown servant, or a dependant of a UK Crown servant.)

For children aged under 16, only their parent or legal guardian can open an account. Children aged 16 or 17 can open their own account, or their parent or legal guardian can open it for them.

You can:

• Apply for, and manage, a Junior ISA online only
• Open an account with at least £1, paid by a debit card in your own name, issued by a UK bank
• Pay in up to the maximum Junior ISA allowance each tax year (£4,368 for 2019/20)

No, you can’t withdraw money from any Junior ISA – they are designed as long-term savings accounts to build up a nest egg for the child when they reach 18. (The only exceptions are if the child dies or has a terminal illness.)

On the child’s 18th birthday, we’ll automatically transfer the money to an adult cash ISA from NS&I. The child will then be able to withdraw money. We’ll contact the person who looks after the account about a month before the transfer happens.

The interest earned is tax-free, so it won’t count towards the child’s Personal Savings Allowance.

Find out more about tax and savings

We’ll send you an electronic statement in April each year, showing all your deposits and interest earned.

Tax-free means the interest is exempt from UK Income Tax.

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.