Maturing Bonds

Children's Bonds are no longer available since 26 April 2018.

What you need to decide

We’ll write to you around 30 days before your Bond matures to explain your options in detail. You don’t need to do anything until you receive your pack.

• Under 16s

  Option 1 – move to an NS&I Junior ISA only for children who are eligible

  Our Junior ISA is an easy way to build up long-term savings for a child until they reach the age of 18. The interest earned is all tax-free. Please note, if your child already holds a cash Junior ISA or a Child Trust Fund, you won't be able to open our Junior ISA straight away.

  Junior ISA

  Option 2 – move to another NS&I account

  We offer two other accounts that can be held by children under 16 - Premium Bonds and Investment Account.

  Move to another account

  Option 3 - cash in the Bond

  You can cash in the Bond at maturity with no penalty.

  You can also choose two or more of these options if you prefer.

  If you’re registered you can do this online or we’ll pay the money directly into your nominated bank account after your Bond matures.

  If you're not registered you'll need to fill out the cashing in form from your pack. Or see the link below:

  Cash in form

• 16 to 17 years

  Option 1 – transfer to a NS&I Junior ISA

  Our Junior ISA is an easy way to build up long-term savings for a child until they reach the age of 18. The interest earned is all tax-free. Please note, if your child already holds a cash Junior ISA or a Child Trust Fund, you won't be able to open our Junior ISA straight away.

  If you would like to transfer to a Junior ISA account, please read the summary box and brochure with the terms and conditions.

  Junior ISA brochure

  Junior ISA summary box

  And fill out both the transfer authority and cashing in form from your pack.

  Transfer authority form

  Cash in form

  Option 2 - reinvest into another NS&I account or investment

  Now that your Children’s Bond is about to mature, you may want to consider another NS&I account as a safe home for your money. You’ll find full details and terms and conditions of the account(s) you’re interested in.

  All products

  Option 3 - cash in the Bond

  You can cash in the Bond at maturity with no penalty.

  You can also choose two or more of these options if you prefer.

  If you’re registered you can do this online or we’ll pay the money directly into your nominated bank account after your Bond matures.

  If you're not registered you'll need to fill out the cashing in form from your pack. Or see the link below:

  Cash in form

• 18 years and over

  As you will be aged 16 or over when your Bond matures, you are now responsible for it. Your Bond will earn no further interest after the maturity date, so you’ll need to decide what to do with the money.

  Your options now are to:

  Option 1: reinvest into another NS&I account or investment

  Now that your Children's Bond is about to mature, you may want to consider another NS&I account as a safe home for your money. You’ll find full details and terms and conditions of the account(s) you’re interested in.

  All products

  Option 2: cash in the Bond

  You can cash in the Bond at maturity with no penalty. If we already have a record of your nominated bank account, we'll automatically pay the full value of your Bond into that account, unless you choose option 1.

  If you’re registered you can do this online or we’ll pay the money directly into your nominated bank account after your Bond matures.

  Log in

  If you're not registered you'll need to fill out the cashing in form from your pack. Or see the link below:

  Cash in form

Cashing in early

Children’s Bonds are designed to be held for the whole of the 5-year term. The person who looks after the Bond can cash in at the end of a term with no penalty.

You can also cash in before that, but we will deduct a penalty from the payment equivalent to 90 days’ interest on the amount cashed in.

When you cash in part of a Bond, at least £25 must remain in the Bond to keep it open until maturity.

Bear in mind that if you cash in all of a Bond within 90 days of renewing, you will get back less than the renewal value.

How to cash in

Have you registered for our online and phone service? Log in or call us at any time with your NS&I number and password to hand.

Call us

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

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

Find out how long it takes to receive your payment

For customers overseas

If your child lives overseas, you can move to another NS&I account or cash in the Bond.

But if you choose to transfer to a Junior ISA you need to be a UK Crown servant or dependant on one to be eligible for our Junior ISA.

• All ages overseas

  Option 1: transfer to a NS&I Junior ISA

  Our Junior ISA is an easy way to build up long-term savings for a child until they reach the age of 18. The interest earned is all tax-free. Please note, if your child already holds a cash Junior ISA or a Child Trust Fund, you won't be able to open our Junior ISA straight away.

  If you are a UK Crown servant or dependant on one and would like to transfer to a Junior ISA account, please read the summary box and brochure with the terms and conditions.

  Junior ISA brochure

  Junior ISA summary box

  And fill out both the transfer authority and cashing in form below:

  Transfer authority form

  Cash in form

  Option 2 - move to another NS&I account

  We offer two other accounts that can be held by children under 16 - Premium Bonds and Investment Account.

  Switch to another account

  Option 3 - cash in the Bond

  You can cash in the Bond at maturity with no penalty.

  You can also choose two or more of these options if you prefer.

  If you're registered you can do this online or we'll pay the money directly into your nominated bank account after your Bond matures.

  If you're not registered you'll need to fill out the cashing in form below:

  Cash in form for under 16s

  Cash in form for 16 and over