Our savings and investments

What you can buy

Product	Rate/info	Tax	Minimum	Maximum per person
Premium Bonds Premium Bonds	1.40% Rate used to calculate prize fund The odds of each £1 unit winning a prize are 24,500 to 1 each month The rate and the odds are variable Eligible for our International Payments Service	tax-free prizes	£100	£50,000
Guaranteed Income Bonds Guaranteed Income Bonds	1.45%gross, 1.46%AER, guaranteed for 1 year Issue 62 1.90%gross, 1.92%AER, guaranteed for 3 years Issue 57	Taxable, paid gross	£500	£1 million Per Issue, per person
Guaranteed Growth Bonds Guaranteed Growth Bonds	1.50% gross/AER, guaranteed for 1 year Issue 62 1.95% gross/AER, guaranteed for 3 years Issue 57	Taxable, paid gross	£500	£1 million Per Issue, per person
Junior ISA Junior ISA	2.50% tax-free/AER, variable	Tax-free	£1	£4,260 Tax year 2018/19
Direct Saver Direct Saver	0.95% gross/AER, variable Eligible for our International Payments Service	Taxable, paid gross	£1	£2 million
Direct ISA Direct ISA	1.00% tax-free/AER, variable Eligible for our International Payments Service	Tax-free	£1	£20,000 Tax year 2018/19
Income Bonds Income Bonds	1.00% gross/AER, variable Eligible for our International Payments Service	Taxable, paid gross	£500	£1 million
Investment Account Investment Account	0.70% gross/AER, variable	Taxable, paid gross	£20	£1 million

Tax-free means that the 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.

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