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Guaranteed Growth Bonds

Sure thing

Enjoy peace of mind with our fixed rate Bond

Guaranteed Growth Bonds: facts and figures

  • Rate 1.50% gross/AER Issue 63
    1.95% gross/AER Issue 58
  • Term 1 year

    3 years
  • Tax Taxable, paid gross

    Taxable, paid gross

Suitable for savers who:

  • are happy to invest online
  • want their interest to build up so their investment grows in value
  • want to know exactly what return they’ll get
  • can leave their money invested for a fixed term
  • have £500 or more to invest

Not for savers who:

  • want to invest by phone or post
  • want a regular income from their investment
  • might need access to their money early

Buying a new Bond?

Summary box

Account name

NS&I Guaranteed Growth Bonds

What is the interest rate?

1-year term, Issue 63: on general sale

1.50% gross/AER

2-year term, Issue 55: only available to customers renewing a maturing Bond

1.70% gross/AER

3-year term, Issue 58: on general sale

1.95% gross/AER

5-year term, Issue 51: only available to customers renewing a maturing Bond

2.25% gross/AER

We calculate the interest daily and add it to your Bond on each anniversary of investment.

Can NS&I change the interest rate?

You’ll receive the rate on offer at the time you invest or start a new term, and that rate will be fixed for the length of your chosen term. We can change the fixed rates on offer at any time. Each time we change the rate on offer we release a new Issue of Bonds.

What would the estimated balance be at the end of the term based on a £1,000 deposit?

1-year term, Issue 63

A £1,000 deposit would be worth £1,015.00 at the end of the 1-year term.

2-year term, Issue 55

A £1,000 deposit would be worth £1,034.29 at the end of the 2-year term.

3-year term, Issue 58

A £1,000 deposit would be worth £1,059.65 at the end of the 3-year term.

5-year term, Issue 51

A £1,000 deposit would be worth £1,117.67 at the end of the 5-year term.

These are illustrations only, so they don’t take into account your individual circumstances. They assume that you don’t make any withdrawals during the term.

How do I open and manage my account?

The Bonds are for customers aged 16 or over. You can hold them in your own name or jointly with one other person. You can also hold them in trust for one or more individuals.

For the Issues on general sale, you can:

  • apply for your Guaranteed Growth Bonds online only, but manage them online, by phone or by post
  • invest at least £500, paid by a debit card in your own name, issued by a UK bank
  • invest up to a total of £10,000 per person (or £10,000 per trust) per Issue

If you have a Bond that is due to mature, you can renew it online or by phone if you are registered for this service; you can also renew by post. The minimum amount you can renew is £500. There is no maximum limit when renewing a maturing Bond.

If you want to switch to an Issue of Guaranteed Growth Bonds that’s on general sale from another NS&I account or investment, download a switching form:

Download a switching form

Or call us

You can’t switch to an Issue of Guaranteed Growth Bonds that’s not on general sale.

Can I withdraw money?

Yes, before the end of the term you can cash in all or part of your Bond online, by phone or by post with no notice. We will deduct a penalty equal to 90 days’ interest on the amount you cash in. You need to keep a balance of at least £500 to keep your Bond open.

At the end of the term you can cash in with no penalty. We’ll contact you about a month before the end of the term to explain the options available at that time.

Additional information

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 a statement in April each year, showing the interest you’ve earned and any withdrawals you might have made. You can choose to receive your statements electronically or by post.

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.

  • Power of Attorney - applying on behalf of someone else

    Want to apply on behalf of someone else under a Power of Attorney or Court of Protection Order?

    If you have already registered your authority with us and have registered for our online service, you can apply for an account online. Just click the ‘Apply now’ button at the bottom of the screen to get started.

    If you haven’t, you'll need to:

    1. register your authority with us first (see our guide below to find out how)
    2. register for the online service
    3. then you can log in and apply for an account online

    Or you can apply by post using the application form below and register your authority at the same time by enclosing the original Power of Attorney or confirmation of your appointment as a Deputy, or a certified copy (see our guide below).

    Our guide to acting on behalf of someone else

    Guaranteed Growth Bonds Power of Attorney application form

    Please note that if you have restricted authority, or must act jointly with another appointed individual, you can only apply for the account by post.

Already have a Bond?

We’re making an important change to our Guaranteed Growth Bonds

If you decide to renew an existing Bond on or after 1 May 2019, you won’t be able to cash it in before the new maturity date – you’ll need to hold the Bond for the full term.

Because this is a major change, we are also giving you the right to cancel within 30 days of renewing a Bond.

What this change means

Previously, we gave you access to your investment before the end of its term but charged a penalty equal to 90 days’ interest on any money you took out early. Now, once you’ve decided to renew a Bond on or after 1 May 2019, you won’t have access to your money until the Bond reaches the end of its new term.

If you are thinking about renewing a Bond but might need access to your money before the end of the new term, you may want to consider a different account.

See our range of accounts

Managing your Bonds

You can log in or call us at any time to check the balance or cash in the Bond.

Shortly after the end of each tax year we’ll send you a statement showing the interest earned and the value of your Bond.

  • What happens at the end of a term?

    Around a month before the end of your chosen term, we’ll contact you to explain the options available at that time.

    There is no maximum limit when renewing a maturing Bond.

    Don’t forget to let us know of any change of address or contact details so we can get in touch.

    How do I change my address and other details?

    Bonds maturing on or before 30 April 2019

    If you choose to renew a Bond that reaches the end of its term on or before 30 April 2019, it will renew on the same terms and conditions. This means you will still be able to access your money before the end of the new term, with a penalty equal to 90 days’ interest on any amount you cash in early.

    See the summary box for the renewal rates currently on offer:

    Summary box dated 11 June 2018

    You can see the terms and conditions here:

    Brochure, including terms and conditions dated 5 August 2018

    Bonds maturing on or after 1 May 2019

    If you choose to renew a Bond that reaches the end of its term on or after 1 May 2019, it will renew under the new customer agreement (terms and conditions). This means you will not be able to access your money before the end of the new term. You will, however, have 30 days from the renewal date to cancel your Bond.

    See the summary box for the renewal rates currently on offer:

    Summary box dated 1 May 2019

    You can see the new customer agreement here:

    Brochure, including customer agreement dated 1 May 2019

  • Cashing in

    Bonds that started on or before 30 April 2019

    You can cash in your Bond at the end of your chosen term with no penalty.

    You can also cash in before that, but we will deduct a penalty from your payment equivalent to 90 days’ interest on the amount cashed in. Bear in mind that if you cash in all of your Bond within 90 days of investing, you will get back less than you invested.

    When you cash in part of a Bond, at least £500 must remain in the Bond to keep it open.

    How to cash in

    Log in or call us at any time with your NS&I number and password to hand.

    Log in

    Call us

    Or complete a cashing in form and send it to us.

    Find out how long it takes to receive your payment

    Bonds that started on or after 1 May 2019

    You have to keep your Bond for the whole of the chosen term – you can’t cash it in before then.

Apply now