Investment Account

Who are you applying for?

Myself My child My (great) grandchild

• Myself

  Before you apply

  Please read the summary box and customer agreement (below).

  What you'll need

  • Your NS&I number (if you have one)
  • Your address and date of birth
  • Your UK bank account details registered to your current address

  What happens next

  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 address

  Summary Box

  Account name

  Investment Account

  What's the interest rate?

  0.01% gross/AER

  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 £1,000.10 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.

  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.

  You can:

  • 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, simply:

  Download an application form

  Download an application form for under 16s

  Call us

  Can you take money out?

  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.

  Additional information

  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.

  Some definitions explained

  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 summary box and the customer agreement before applying.

  Summary box

  Customer agreement (last updated on 24 April 2019)

  Then print and complete the application form:

  Print and complete this form if you’re over 16 and applying for yourself

• My child

  Before you apply

  Please read the summary box and customer agreement (below).

  What you'll need

  • Your NS&I number (if you have one)
  • Your address and date of birth
  • Your UK bank account details registered to your current address
  • Your child’s address and date of birth

  What happens next

  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 address

  Summary Box

  Account name

  Investment Account

  What's the interest rate?

  0.01% gross/AER

  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 £1,000.10 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.

  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.

  You can:

  • 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 Income Bonds from another NS&I account, simply:

  Download an application form

  Download an application form for under 16s

  Call us

  Can you take money out?

  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.

  Additional information

  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.

  Some definitions explained

  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 summary box and the customer agreement before applying.

  Summary box

  Customer agreement (last updated on 24 April 2019)

  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.

• My (great) grandchild

  Before you apply

  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.

  What you'll need

  • Your address and date of birth
  • The child’s parent/guardian’s address and date of birth
  • The child’s parent/guardian’s UK bank account details registered to their current address
  • The child’s address and date of birth

  What happens next

  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 address

  Summary Box

  Account name

  Investment Account

  What's the interest rate?

  0.01% gross/AER

  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 £1,000.10 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.

  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.

  You can:

  • 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 Income Bonds from another NS&I account, simply:

  Download an application form

  Download an application form for under 16s

  Call us

  Can you take money out?

  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.

  Additional information

  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.

  Some definitions explained

  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 summary box and the customer agreement before applying.

  Summary box

  Customer agreement (last updated on 24 April 2019)

  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.