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Historical interest rates

 

Interest rate changes

We are committed to keeping you informed and up-to-date on changes in the interest rates for our fixed and variable rate products. Included below are details of our old/previous interest rates.

For full details of an account or investment, including current interest rates, go to the 'Our savings and investments' section of our website.

Definitions

Tax-free means that interest or prizes are exempt from UK Income Tax and Capital Gains 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.
Gross is the taxable rate of interest without the deduction of UK Income Tax.
Index-linking means the value of your investment moves in line with inflation as measured by the Retail Prices Index (RPI). To check the RPI, visit the Office for National Statistics website at ons.gov.uk and search for RPI All Items Index.
From 1 May 2019, if you renew your Index-linked Savings Certificate, we will calculate the index-linking using the Consumer Prices Index (CPI).

Our products

Here are a list of our products and their interest rates:

Premium Bonds

Annual rate used to calculate prize fund for monthly draws

Effective from Prizes tax-free Odds per £1 Bond unit
1 December 2017 1.40% 24,500 to 1
1 May 2017 1.15% 30,000 to 1
1 June 2016 1.25% 30,000 to 1
1 August 2014 1.35% 26,000 to 1
1 August 2013 1.30% 26,000 to 1
1 October 2009 1.50% 24,000 to 1
1 April 2009 1.00% 36,000 to 1
1 December 2008 1.80% 36,000 to 1
1 November 2008 2.85% 24,000 to 1
1 May 2008 3.40% 24,000 to 1

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Direct ISA

Effective from AER (tax-free)
1 March 2019 0.90%
24 September 2018 0.75%
1 December 2017 1.00%
1 May 2017 0.75%
6 June 2016 1.00%
16 November 2015 1.25%
27 February 2014 1.50%
12 September 2013 1.75%
5 November 2012 2.25%
19 August 2009 2.50%
18 March 2009 1.30%
19 February 2009 1.80%
21 January 2009 2.30%
7 November 2008 3.30%
8 October 2008 4.80%
10 April 2008 5.30%

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Direct Saver

Effective from Gross/AER (taxable)
1 October 2018 1.00%
1 December 2017 0.95%
1 May 2017 0.70%
6 June 2016 0.80%
12 September 2013 1.10%
25 January 2012 1.50%
19 July 2010 1.75%
8 March 2010 2.00%

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Income Bonds

*From 6 April 2013 Income Bonds moved to a single rate of interest for all investors.

Effective from Gross (taxable) AER (taxable)
1 October 2018
£500+ 1.15% 1.16%
1 December 2017
£500+ 1.00% 1.00%
01 May 2017
£500+ 0.75% 0.75%
6 June 2016
£500+ 1.00% 1.00%
12 September 2013
£500+ 1.25% 1.26%
6 April 2013*
£500+ 1.75% 1.76%
19 July 2010
£500-£24,999 1.45% 1.46%
£25,000+ 1.75% 1.76%
20 May 2009
£500-£24,999 1.70% 1.71%
£25,000+ 2.00% 2.02%
18 March 2009
£500-£24,999 0.70% 0.70%
£25,000+ 1.00% 1.00%
19 February 2009
£500-£24,999 1.20% 1.21%
£25,000+ 1.45% 1.46%
21 January 2009
£500-£24,999 1.95% 1.97%
£25,000+ 2.20% 2.22%
19 November 2008
£500-£24,999 2.45% 2.48%
£25,000+ 2.70% 2.73%
6 November 2008
£500-£24,999 3.75% 3.82%
£25,000+ 4.00% 4.07%
7 October 2008
£500-£24,999 4.25% 4.33%
£25,000+ 4.50% 4.59%
6 May 2008
£500-£24,999 4.45% 4.54%
£25,000+ 4.70% 4.80%

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Investment Account

Effective from Gross/AER (taxable)
1 October 2018
£1+ 0.80%
1 December 2017
£1+ 0.70%
1 July 2016
£1+ 0.45%
21 May 2012
£1+ 0.75%
18 March 2009
£1-£24,999 0.20%
£25,000+ 0.30%
19 February 2009
£1-£9,999 0.30%
£10,000-£49,999 0.40%
£50,000+ 0.50%
21 January 2009
£1-£24,999 0.35%
£25,000-£49,999 0.55%
£25,000-£49,999 0.55%
£50,000+ 1.90%
19 November 2008
£1-£499 1.00%
£500-£4,999 1.05%
£5,000-£9,999 1.15%
£10,000-£24,999 1.35%
£25,000-£49,999 1.55%
£50,000+ 1.90%
22 October 2008
£1-£499 2.50%
£500-£4,999 2.55%
£5,000-£9,999 2.65%
£10,000-£24,999 2.85%
£25,000-£49,999 3.05%
£50,000+ 3.40%
7 October 2008
£1-£499 3.00%
£500-£4,999 3.05%
£5,000-£9,999 3.15%
£10,000-£24,999 3.35%
£25,000-£49,999 3.55%
£50,000+ 3.90%
23 April 2008
£1-£499 3.20%
£500-£4,999 3.25%
£5,000-£9,999 3.35%
£10,000-£24,999 3.55%
£25,000-£49,999 3.75%
£50,000+ 4.10%

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Junior ISA

Effective from AER (tax-free)
1 March 2019 3.25%
12 March 2018 2.50%
1 December 2017 2.25%
15 August 2017 2.00%

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Guaranteed Growth Bonds

Replacement for Fixed Rate Savings Bonds and Capital Bonds effective from 23 February 2008

6-month (no Issue on sale and no longer available)

Effective from Issue Gross/AER (taxable)
18 August 2010 52nd 1.55%

1-year (no issue on general sale from 18 November 2009 until 30 November 2017 and from 2 September 2019 onwards)

Effective from Issue Gross/AER (taxable)
2 September 2019 65th 1.25%
1 May 2019 64th 1.50%
11 June 2018 63rd 1.50%
1 December 2017 62rd 1.50%
20 November 2017 61st 1.50%
13 November 2017 60th 1.25%
1 April 2017 59th 0.95%
1 July 2016 58th 1.20%
20 October 2015 57th 1.45%
9 December 2013 56th 1.25%
5 July 2013 55th 1.50%
27 February 2013 54th 1.75%
5 October 2012 53rd 2.00%
20 September 2012 52nd 2.20%
27 September 2010 51st 2.20%
18 August 2010 50th 2.45%
17 February 2010 49th 3.20%
26 October 2009 48th 3.95%

18-month (no Issue on sale and no longer available)

Effective from Issue Gross/AER (taxable)
27 September 2010 50th 2.20%
18 August 2010 49th 2.45%
17 February 2010 48th 3.20%
26 October 2009 47th 3.95%
19 February 2009 46th 0.95%

2-year (no Issue on general sale from 18 November 2009, only available to customers with a maturing Guaranteed Growth Bond)

Effective from Issue Gross/AER (taxable)
2 September 2019 57th 1.45%
1 May 2019 56th 1.70%
20 November 2017 55th 1.70%
13 August 2017 54th 1.45%
1 April 2017 53rd 1.05%
1 July 2016 52nd 1.30%
20 October 2015 51st 1.70%
9 December 2013 50th 1.50%
5 July 2013 49th 1.75%
27 February 2013 48th 2.00%
7 January 2013 47th 2.25%
5 October 2012 46th 2.50%
20 September 2012 45th 2.75%
27 September 2012 44th 2.75%
18 August 2010 43rd 3.25%
17 February 2010 42nd 4.05%
26 October 2009 41st 4.25%
13 July 2009 40th 3.75%

3-year (no Issue on general sale from 11 December 2009 until 30 November 2017 and from 2 September 2019 onwards)

Effective from Issue Gross/AER (taxable)
2 September 2019 60th 1.70%
1 May 2019 59th 1.95%
11 June 2018 58th 1.95%
6 March 2018 57th 1.95%
1 December 2017 56th 2.20%
20 November 2017 55th 2.20%
13 November 2017 54th 1.95%
1 April 2017 53rd 1.25%
1 July 2016 52nd 1.50%
20 October 2015 51st 1.90%
9 December 2013 50th 1.70%
5 July 2013 49th 1.95%
27 February 2013 48th 2.20%
7 January 2013 47th 2.50%
5 October 2012 46th 3.00%
20 September 2012 45th 3.25%
27 September 2010 44th 3.25%
18 August 2010 43rd 3.55%
26 October 2009 42nd 4.40%
19 February 2009 41st 1.75%
21 January 2009 40th 2.80%
17 September 2008 39th 4.00%
18 June 2008 38th 4.75%
21 May 2008 37th 4.00%
2 April 2008 36th 3.55%
23 February 2008 35th 4.00%

5-year (no Issue on general sale from 11 December 2009, only available to customers with a maturing Guaranteed Growth Bond)

Effective from Issue Gross/AER (taxable)
2 September 2019 53rd 2.00%
1 May 2019 52nd 2.25%
20 November 2017 51st 2.25%
13 November 2017 50th 2.00%
1 April 2017 49th 1.70%
1 July 2016 48th 2.30%
20 October 2015 47th 2.55%
5 July 2013 46th 2.35%
27 February 2013 45th 2.60%
7 January 2013 44th 3.00%
5 October 2012 43rd 3.65%
20 September 2012 42nd 3.90%
27 September 2012 42nd 3.90%
18 August 2010 40th 4.00%
26 October 2009 39th 4.60%
19 February 2010 38th 2.60%
21 January 2009 37th 3.15%
17 September 2008 36th 4.00%
18 June 2008 35th 4.75%
21 May 2008 34th 4.05%
2 April 2008 33rd 3.65%
23 February 2008 32nd 4.05%

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Guaranteed Income Bonds

6-month (no Issue on sale and no longer available)

Effective from Issue Gross (taxable) AER (taxable)
18 August 2010 52nd 1.50% 1.51%

1-year (no issue on general sale from 18 November 2009 until 30 November 2017 and from 2 September 2019 onwards)

Effective from Issue Gross (taxable) AER (taxable)
2 September 2019 65th 1.20% 1.21%
1 May 2019 64th 1.45% 1.46%
11 June 2018 63rd 1.45% 1.46%
1 December 2017 62nd 1.45% 1.46%
20 November 2017 61st 1.45% 1.46%
13 November 2017 60th 1.20% 1.21%
1 April 2017 59th 0.90% 0.90%
1 July 2016 58th 1.15% 1.16%
20 October 2015 57th 1.40% 1.41%
9 December 2013 56th 1.20% 1.21%
5 July 2013 55th 1.45% 1.46%
27 February 2013 54th 1.70% 1.71%
5 October 2012 53rd 1.95% 1.97%
20 September 2012 52nd 2.15% 2.17%
27 September 2010 51st 2.15% 2.17%
18 August 2010 50th 2.40% 2.43%
17 February 2010 49th 3.15% 3.20%
26 October 2009 48th 3.85% 3.92%

18-month (no Issue on sale and no longer available)

Effective from Issue Gross (taxable) AER (taxable)
27 September 2010 50th 2.15% 2.17%
18 August 2010 49th 2.40% 2.43%
17 February 2010 48th 3.15% 3.20%
26 October 2009 47th 3.85% 3.92%

2-year (no Issue on general sale from 18 November 2009, only available to customers with a maturing Guaranteed Income Bond)

Effective from Issue Gross (taxable) AER (taxable)
2 September 2019 57th 1.40% 1.41%
1 May 2019 56th 1.65% 1.66%
20 November 2017 55th 1.65% 1.66%
13 November 2017 54nd 1.40% 1.41%
1 April 2017 53rd 1.00% 1.00%
1 July 2016 52nd 1.25% 1.26%
20 October 2015 51st 1.65% 1.66%
9 December 2013 50th 1.45% 1.46%
5 July 2013 49th 1.70% 1.71%
27 February 2013 48th 1.95% 1.97%
7 January 2013 47th 2.20% 2.22%
5 October 2012 46th 2.45% 2.48%
20 September 2012 45rd 2.70% 2.73%
27 September 2010 44th 2.70% 2.73%
18 August 2010 43rd 3.20% 3.25%
17 February 2010 42nd 3.95% 4.02%
26 October 2009 41st 4.15% 4.23%
13 July 2009 40th 3.65% 3.71%

3-year (no Issue on general sale from 11 December 2009 until 30 November 2017 and from 2 September 2019 onwards)

Effective from Issue Gross (taxable) AER (taxable)
2 September 2019 60th 1.65% 1.66%
1 May 2019 59th 1.90% 1.92%
11 June 2018 58th 1.90% 1.92%
6 March 2018 57th 1.90% 1.92%
1 December 2017 56th 2.15% 2.17%
20 November 2017 55th 2.15% 2.17%
13 November 2017 54th 1.90% 1.92%
1 April 2017 53rd 1.20% 1.21%
1 July 2016 52nd 1.45% 1.46%
20 October 2015 51st 1.85% 1.87%
9 December 2013 50th 1.65% 1.66%
5 July 2013 49th 1.90% 1.92%
27 February 2013 48th 2.15% 2.17%
7 January 2013 47th 2.45% 2.48%
5 October 2012 46th 2.95% 2.99%
20 September 2012 45th 3.20% 3.25%
27 September 2010 44th 3.20% 3.25%
18 August 2010 43rd 3.45% 3.51%
26 October 2009 42nd 4.30% 4.39%
19 February 2009 41st 1.70% 1.71%
21 January 2009 40th 2.70% 2.73%
17 September 2008 39th 3.90% 3.97%
18 June 2008 38th 4.65% 4.75%
21 May 2008 37th 3.90% 3.97%
2 April 2008 36th 3.45% 3.51%
23 February 2008 35th 3.90% 3.97%

5-year (no Issue on general sale from 11 December 2009, only available to customers with a maturing Guaranteed Income Bond)

Effective from Issue Gross (taxable) AER (taxable)
2 September 2019 53rd 1.95% 1.97%
1 May 2019 52nd 2.20% 2.22%
20 November 2017 51st 2.20% 2.22%
13 November 2017 50th 1.95% 1.97%
1 April 2017 49th 1.65% 1.66%
1 July 2016 48th 2.25% 2.27%
20 October 2015 47th 2.50% 2.53%
5 July 2013 46th 2.30% 2.32%
27 February 2013 45th 2.55% 2.58%
7 January 2013 44th 2.90% 2.94%
5 October 2012 43rd 3.55% 3.61%
20 September 2012 42nd 3.80% 3.87%
27 September 2010 41st 3.80% 3.87%
18 August 2010 40th 3.90% 3.97%
26 October 2009 39th 4.50% 4.59%
19 February 2009 38th 2.55% 2.58%
21 January 2009 37th 3.05% 3.09%
17 September 2008 36th 3.90% 3.97%
18 June 2008 35th 4.65% 4.75%
21 May 2008 34th 3.95% 4.02%
2 April 2008 33rd 3.55% 3.61%
23 February 2008 32nd 3.95% 4.02%

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Fixed Interest Savings Certificates

2-year (guaranteed compound rate over 2 years)

(no Issue on general sale from 7 September 2011, only available to customers with a maturing Fixed Interest Savings Certificate)

Effective from Issue AER (tax-free)
2 September 2019 55th 1.30%
20 November 2017 54th 1.55%
13 November 2017 53rd 1.30%
9 December 2013 52nd 0.90%
5 July 2013 51st 1.15%
20 September 2012 50th 1.25%
7 September 2011 49th 1.25%
12 May 2011 48th 1.25%
19 August 2009 47th 1.25%
19 February 2009 46th 0.95%
21 January 2009 45th 1.90%
17 September 2008 44th 2.95%

5-year (guaranteed compound rate over 5 years)

(no Issue on general sale from 7 September 2011 , only available to customers with a maturing Fixed Interest Savings Certificate)

Effective from Issue AER (tax-free)
2 September 2019 105th 1.90%
20 November 2017 104th 2.15%
13 November 2017 103rd 1.90%
5 July 2013 102nd 1.60%
27 February 2013 101st 1.75%
7 January 2013 100th 2.00%
20 September 2012 99th 2.25%
7 September 2011 98th 2.25%
12 May 2011 97th 2.25%
19 August 2009 96th 2.25%
19 February 2009 95th 1.90%
21 January 2009 94th 2.35%
17 September 2008 93rd 2.95%
18 June 2008 92nd 3.50%
21 May 2008 91st 2.95%
2 April 2008 90th 2.70%
23 January 2008 89th 3.00%
28 November 2007 88th 3.15%
24 October 2007 87th 3.50%
20 June 2007 86th 3.85%
23 May 2007 85th 3.60%
24 January 2007 84th 3.50%
20 May 2006 83rd 3.20%
3 April 2006 82nd 3.05%
30 December 2005 81st 2.95%

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Index-linked Savings Certificates

From 11 November 2013: Issues 1-4 = Index-linking only

2-year (Index-linking + guaranteed compound rate over 2 years)

From 1 May 2019, if you renew your Index-linked Savings Certificate, we will calculate the index-linking using the Consumer Prices Index (CPI).

(no Issue on general sale from 25 June 2003, only available to customers with a maturing 2-year Index-Linked Savings Certificate)

Effective from Issue Index-linking + AER (tax-free)
1 May 2019 44th Index-linking + 0.01%
28 March 2016 43rd Index-linking + 0.01%
5 July 2013 42nd Index-linking + 0.05%
27 February 2013 41st Index-linking + 0.15%
20 September 2012 40th Index-linking + 0.25%
7 September 2011 39th 7 September 2011
12 May 2011 38th Index-linking + 0.50%
7 April 2010 37th Index-linking + 1.00%
29 April 2009 36th Index-linking + 1.00%

3-year (Index-linking + guaranteed compound rate over 3 years)

From 1 May 2019, if you renew your Index-linked Savings Certificate, we will calculate the index-linking using the Consumer Prices Index (CPI).

(no Issue on general sale from 18 July 2010, only available to customers with a maturing Index-Linked Savings Certificate)

Effective from Issue Index-linking + AER (tax-free)
1 May 2019 27th Index-linking + 0.01%
28 March 2016 26th Index-linking + 0.01%
5 July 2013 25th Index-linking + 0.05%
27 February 2013 24th Index-linking + 0.15%
20 September 2012 23rd Index-linking + 0.25%
7 September 2011 22nd Index-linking + 0.25%
12 May 2011 21st Index-linking + 0.50%
7 April 2010 20th Index-linking + 1.00%
29 April 2009 19th Index-linking + 1.00%
18 June 2008 18th Index-linking + 1.00%
21 May 2008 17th Index-linking + 0.70%
2 April 2008 16th Index-linking + 0.25%

5-year (Index-linking + guaranteed compound rate over 5 years)

From 1 May 2019, if you renew your Index-linked Savings Certificate, we will calculate the index-linking using the Consumer Prices Index (CPI).

(no Issue on general sale from 6 September 2011, only available to customers with a maturing Index-Linked Savings Certificate)

Effective from Issue Index-linking + AER (tax-free)
1 May 2019 54th Index-linking + 0.01%
28 March 2016 53rd Index-linking + 0.01%
5 July 2013 52nd Index-linking + 0.05%
27 February 2013 51st Index-linking + 0.15%
20 September 2012 50th Index-linking + 0.25%
7 September 2011 49th Index-linking + 0.25%
12 May 2011 48th Index-linking + 0.50%
7 April 2010 47th Index-linking + 1.00%
29 April 2009 46th Index-linking + 1.00%
18 June 2008 45th Index-linking + 1.00%
21 May 2008 44th Index-linking + 0.70%
2 April 2008 43rd Index-linking + 0.35%
25 April 2007 42nd Index-linking + 1.35%
20 May 2006 41st Index-linking + 1.10%
3 April 2006 40th Index-linking + 0.95%
30 December 2005 39nd Index-linking + 1.05%

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Children's Bonds

(Annual rate guaranteed for 5 years)

*From 20 September 2012 Children's Bonus Bonds are known as Children's Bonds

On 24 September 2017 Children's Bonds were closed to new sales and as of 26 April 2018 they are no longer available for renewal.

Effective from Issue AER (tax-free)
24 September 2017 37 th 2.00%
1 April 2017 36 th 2.00%
20 September 2012* 35 th 2.50%

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Children's Bonus Bonds

On 20 September 2012 we changed the name of Children's Bonus Bonds - they're now known as Children's Bonds. For Issue 35 onwards, please see the Children's Bonds tab.

(Guaranteed compound rate over 5 years)

Effective from Issue AER (tax-free)
19 August 2009 34th 2.50%
19 February 2009 33rd 2.30%
21 January 2009 32th 2.85%
17 September 2008 31st 3.70%
18 June 2008 30th 4.45%
21 May 2008 29th 3.75%
2 April 2008 28th 3.40%
23 January 2008 27th 3.75%
28 November 2007 26th 4.05%
24 October 2007 25th 4.55%
20 June 2007 24th 5.10%
23 May 2007 23rd 4.80%
24 January 2007 22nd 4.60%
20 May 2006 21st 4.25%
30 December 2005 20th 3.85%
21 July 2005 19th 3.65%
21 April 2005 18th 4.10%
1 February 2005 17th 4.00%
19 August 2004 16th 4.45%

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65+ Guaranteed Growth Bonds

Product no longer on sale as of 15 May 2015

1-year (no Issue on sale and no longer available)

Effective from Issue Gross/AER (taxable)
15 January 2015 1st 2.80%

3-year (no Issue on sale and no longer available)

Effective from Issue Gross/AER (taxable)
15 January 2015 1st 4.00%

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Investment Guaranteed Growth Bonds

Product no longer on sale as of 11 April 2018

3-year (no Issue on sale and no longer available)

Effective from Issue Gross/AER (taxable)
11 April 2017 1st 2.20%

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Residual Account

Where an NS&I product has been closed and we have been unsuccessful in our efforts to return the money invested to our customer such remaining holdings are transferred to the Residual Account.

There are two types of holding within the Residual Account: Type A which are interest bearing; and Type B which are non-interest bearing.

Type A:

Ordinary Account, Deposit Bonds, Yearly Plan, SAYE and Treasurer's Account

Effective from Gross/AER (taxable)
1 October 2018 0.35%
18 March 2009 0.10%
21 January 2009 0.15%
19 November 2008 0.25%

Type B: 0% interest paid

Gift Tokens; Savings Stamps and British Savings Bonds

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