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Guaranteed Income Bonds

Do you have a Bond that matures soon?

Here’s what you need to do next

What you need to decide

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 value of your 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.

Renewing your Bond

Renewing your Bond

We currently offer lssues which are only available to customers who are renewing a maturing Bond. They are not on general sale.

Around a month before the end of your chosen term, we’ll contact you to explain the options available at that time. If you choose to renew your Bond for another term of the same length, you’ll receive the interest rate we quote in your letter, even if our rates go down before your maturity date. If you renew for a different term, you’ll receive the rate on offer on the date your Bond matures. Bear in mind that this could be lower than the rate in the summary box we send you.

There is no maximum limit when renewing a maturing Bond, but you won’t be able to add any extra money to your investment.

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?

Cashing in

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.