A savings account you can only manage by post.
You can only use your Investment Account by post.
When you make a cheque deposit or withdrawal, we’ll send you a record of your transaction. We’ll also send you a statement every January showing you all your transactions, plus your interest.
Only a parent, guardian, grandparent or great-grandparent can open an account and make deposits for a child.
Until the child’s 16th birthday, the parent or guardian nominated on the application looks after the account and we’ll send all correspondence to them.
The minimum you can withdraw is £1 and at least £1 must remain in your account to keep it open.
You can withdraw money from your Investment Account using an online form, without having to send us any post.
Withdraw from my Investment AccountYou’ll need your NS&I or account number to hand, as well as your bank account details.
Or complete a withdrawal form and send it to us.
The interest you earn on most savings will count towards your taxable income. But this doesn’t mean you’ll have to pay tax on it. It all depends how much interest you earn in total and what rate of tax you pay. You can find out more in our Help section.
We’ll ask you as part of your application if you’d like to save with someone else.
You can only apply by post.
Please read the summary box and customer agreement (below).
We’ll then process your application and usually open your account in 10 working days.
We'll need to check the identity and address of everyone named on the application. To do this, we may ask you to send us some documents.
Documents that prove your identity and addressInvestment Account
0.01% gross/AER
We calculate the interest daily and add it to your account once a year on 1 January.
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 £1,000.10 after 12 months, if the interest rate stayed at 0.01% gross/AER (the rate from 24 November 2020) during the 12 months.
This is an illustration only, so it doesn’t take into account your individual circumstances. It assumes that you don’t make any withdrawals or additional deposits during the year.
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.
You can:
If you want to switch to an Investment Account from another NS&I account, simply:
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 account open.
We pay your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance.
Find out more about tax and savings
We’ll send you a statement in January each year, showing all your transactions and interest.
Gross is the taxable rate of interest without the deduction of UK Income 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.
Please make sure you’ve read our current summary box and customer agreement (terms and conditions) before applying.
Then print and complete the application form:
Print and complete this form if you’re over 16 and applying for yourself
Please read the summary box and customer agreement (below).
We’ll then process your application and usually open your account in 10-12 working days.
We'll need to check the identity and address of everyone named on the application. To do this, we may ask you to send us some documents.
Documents that prove your identity and addressInvestment Account
0.01% gross/AER
We calculate the interest daily and add it to your account once a year on 1 January.
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 £1,000.10 after 12 months, if the interest rate stayed at 0.01% gross/AER (the rate from 24 November 2020) during the 12 months.
This is an illustration only, so it doesn’t take into account your individual circumstances. It assumes that you don’t make any withdrawals or additional deposits during the year.
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.
You can:
If you want to switch to Income Bonds from another NS&I account, simply:
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 account open.
We pay your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance.
Find out more about tax and savings
We’ll send you a statement in January each year, showing all your transactions and interest.
Gross is the taxable rate of interest without the deduction of UK Income 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.
Please make sure you’ve read our current summary box and customer agreement (terms and conditions) before applying.
Print and complete this form if you’re a parent or grandparent applying for a child under 16
We'll need to check the identity and address of everyone nominated on the application, including the child. To do this, we may ask you to send us some documents.
Please read the summary box and customer agreement (below).
You’ll need permission the parent/guardian is happy to look after their Investment Account and agrees to you giving us their details.
We’ll then process your application and aim to contact the child’s parent/guardian in 10-12 working days. They will be responsible for the child’s Investment Account until they turn 16 and all correspondence will be sent to them.
We'll need to check the identity and address of everyone named on the application. To do this, we may ask the child’s parent/guardian to send us some documents.
Documents that prove your identity and addressInvestment Account
0.01% gross/AER
We calculate the interest daily and add it to your account once a year on 1 January.
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 £1,000.10 after 12 months, if the interest rate stayed at 0.01% gross/AER (the rate from 24 November 2020) during the 12 months.
This is an illustration only, so it doesn’t take into account your individual circumstances. It assumes that you don’t make any withdrawals or additional deposits during the year.
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.
You can:
If you want to switch to Income Bonds from another NS&I account, simply:
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 account open.
We pay your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance.
Find out more about tax and savings
We’ll send you a statement in January each year, showing all your transactions and interest.
Gross is the taxable rate of interest without the deduction of UK Income 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.
Please make sure you’ve read our current summary box and customer agreement (terms and conditions) before applying.
Then print and complete the application form:
Print and complete this form if you’re a parent or grandparent applying for a child under 16
We'll need to check the identity and address of everyone nominated on the application, including the child. To do this, we may ask you to send us some documents.
If you already have an account with us, you can top it up whenever you like.
When you pay by bank transfer, you're confirming your bank account is a UK account in your name.
Just give the following details to your bank:
Please make sure you've set up your account before transferring money via your bank.
When you set up your payment, you may receive a message saying 'This account can't be checked' or something similar. This doesn't mean the details you are using are wrong but please check them carefully.
When you make a bank transfer, the money takes 2 to 3 banking days to reach your account.
For more information on topping up by bank transfer see our FAQs
It's simple: first, download our postal form.
1.40% annual prize fund rate
A fun way to save, with the chance to win tax-free prizes each month.
Invest from £25 to £50,000.
0.50%
An easy access savings account that pays your interest yearly, to top up your savings.
Invest from £1 to £2 million.
1.50%
A tax-free way to save for children up to the age of 18.
Invest from £1 to £9,000 in the tax year 2022/23.
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Find out moreMost banks only guarantee your savings up to £85k. We’re the only provider that secures 100% of your savings, however much you invest.
We're backed by HM Treasury and we've been helping people save for over 160 years. Today, over a third of UK savers trust us with their money.
We created Premium Bonds and you can only get them from us. Open an account and you could win big in our monthly prize draw.
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