NS&I Investment Account
What is the interest rate?
0.80% gross/AER until 30 April.
0.60% gross/AER from 1 May 2020.
We calculate the interest daily and add it to your account once a year on 1 January.
Can NS&I change the interest rate?
Yes - the rate is variable so we can change it up or down from time to time, for example when the Bank of England base rate
changes or when rates in the general savings market change. See the customer agreement (terms and conditions) for more details.
We’ll give advance notice of any rate changes by publishing adverts in a range of newspapers and by updating our website.
When the rate is going down, we’ll also contact you personally in advance to let you know.
What would the estimated balance be after 12 months based on a £1,000 deposit?
A £1,000 deposit would be worth £1,008.00 after 12 months, if the current interest rate stayed at 0.80% gross/AER
(the rate until 30 April 2020) during the 12 months.
A £1,000 deposit would be worth £1,006.00 after 12 months, if the interest rate stayed at 0.60% gross/AER
(the rate from 1 May 2020) during the 12 months.
These are illustrations only, so they don't take into account your individual circumstances. They assume that you don't make any withdrawals or additional deposits during the year.
How do I open and manage my account?
Our Investment Account is for customers aged 16 or over. You can open an account in your own name or jointly with one other
person. An account can also be opened for a child under 16 by their parent, guardian, grandparent. You can also invest in
trust for someone else.
apply for, and manage, an Investment Account by post only
open an account with at least £20, paid by personal cheque drawn on a UK bank account in your name
hold up to a total of £1 million per person in Investment Accounts
If you want to switch to an Investment Account from another NS&I account or investment:
Download an application form
Can I withdraw money?
Yes, you can take out money by post with no notice or penalty. You just need to keep a balance of at least £1 to keep your
We pay your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal
Find out more about tax and savings
We’ll send you a statement in January each year, showing all your transactions and interest.
is the taxable rate of interest without the deduction of UK Income Tax.
(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.