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Interest rates


This is a summary of our latest interest rates. Where relevant, it includes variable rates that have already been announced but not yet come into effect.

Premium Bonds prize fund rate

Odds per £1 unit Annual prize fund interest rate Tax information
30,000 to 1 1.15% All prizes are tax-free

The rate and the odds are variable

To see an estimate of the number of prizes of each value, see the Prize draw details section on our Prize checker page.

Prize checker

Variable rates

Direct ISA

Amount Interest rate Tax information
£1+ 0.75% tax-free/AER Tax-free

Direct Saver

Amount Interest rate Tax information
£1+ 0.70% gross/AER Taxable, paid gross

Income Bonds

Amount Interest rate Tax information
£500+ 0.75% gross/AER Taxable, paid gross

Investment Account

Amount Interest rate Tax information
£1+ 0.45% gross/AER Taxable, paid gross

Fixed rates

Investment Guaranteed Growth Bonds

Issue 1 from 11 April 2017

Amount Interest rate Tax information
£100+ 2.20% gross/AER
guaranteed for 3 years
Taxable, paid gross

Children's Bonds

Issue 36 from 1 April 2017

Amount Interest rate Tax information
£25+ 2.00% tax-free/AER guaranteed for 5 years
No tax liability for parents or children

Historical interest rates

We are committed to keeping you informed and up to date on changes in the interest rates for our variable rate accounts and investments over at least the previous 12 months. We have also included the interest rates for our fixed rate investments.

Historical interest rates

Investments not on general sale

No Issues of our Guaranteed Growth Bonds, Guaranteed Income Bonds, Fixed Interest Savings Certificates or Index-linked Savings Certificates are currently on general sale.

If you already have one of these investments that is about to mature, here are the Issues exclusively available when you renew your investment. You can renew up to the full value of your mature investment, but you won’t be able to add to it.

Note that you can only renew into the same type of investment (for example if you have a maturing Guaranteed Growth Bond you can’t renew into an Index-linked Savings Certificate).

Guaranteed Bonds

Investment Term Effective from Gross AER
Guaranteed Growth Bonds (taxable, paid gross) 1-year,
Issue 59
1 April 2017 0.95% 0.95%
Issue 53
1 April 2017 1.05% 1.05%
Issue 53
1 April 2017 1.25% 1.25%
Issue 49
1 April 2017 1.70% 1.70%
Guaranteed Income Bonds (taxable, paid gross) 1-year,
Issue 59
1 April 2017 0.90% 0.90%
Issue 53
1 April 2017 1.00% 1.00%
Issue 53
1 April 2017 1.20% 1.21%
Issue 49
1 April 2017 1.65% 1.66%

Saving Certificates

Investment Term Effective from AER
Fixed Interest Savings Certificates (Tax-free) 2-year, Issue 52 9 December 2013 0.90%
5-year, Issue 102 5 July 2013 1.60%
Index-linked Savings Certificates (Tax-free) 2-year, Issue 43 * 28 March 2016 Index-linking +0.01%
3-year, Issue 26 28 March 2016 Index-linking + 0.01%
5-year, Issue 53 28 March 2016 Index-linking + 0.01%

* Only available to customers renewing an existing 2-year Index-linked Savings Certificate.

Products no longer on sale

Residual Account

If we close one of our Bonds or Accounts and can't trace you to return your money, we will transfer your money to our Residual Account.

View the terms and conditions
Type Holdings Interest rate Tax information
A - interest bearing for £1+ Matured 6-month and 18-month terms of Guaranteed Growth Bonds and Guaranteed Income Bonds
Easy Access Savings Account
Ordinary Account
Deposit Bonds
Yearly Plan
Treasurer's Account
Pensioners Guaranteed Income Bonds
Capital Bonds
0.10% gross/AER Taxable, paid gross
B - non-interest bearing Gift Tokens
Savings Stamps
British Savings Bonds


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 and search for RPI All Items Index.