Guaranteed Income Bonds

Guaranteed Income Bonds are no longer on sale. Find out how to manage your current Bonds if they’re coming up for maturity, or if you need to cash in early.

Important changes to Guaranteed Income Bonds

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, you won’t have access to your money until the Bond reaches the end of its new term.

You will however have the right to cancel within 30 days of renewing your Bond.

Find out how much your Bonds are worth

You can easily find out how much your Bonds are worth by logging in to your online account.


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

Managing your maturing Bonds

We’ll write to you around a month before your Bonds mature explaining the options available to you.

You’ll need to decide if you want to:

  • automatically renew your Bond for another term of the same length
  • renew it for a term of a different length
  • cash it in

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.

See the summary box for the renewal rates on offer:

Summary box

Key features leaflet, including customer agreement dated 1 May 2019

Not heard from us?

Call us if you have any questions or you haven’t heard from us 30 days before the end of your investment term. And don’t forget to tell us if you change your address or contact details.

Call us

Cashing in early

For Bonds starting 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.

Bonds starting on or after 1 May 2019 cannot be cashed in before the end of your chosen term.

How to cash in

If you’re registered to manage your savings online, you can log in at any time to cash in your Bonds.


Not registered or prefer to use the post? Download, print and send us a completed form and we’ll take care of the rest.

Download a cashing in form