Earn guaranteed returns for a fixed term. Our Guaranteed Growth Bonds are one of the British Savings Bonds announced by the Chancellor in the Spring Budget 2024.
Essentials at a glance
- What's the interest rate?
- 4.50% gross/AER, fixed for 1 year, Issue 79
4.15% gross/AER, fixed for 3 years, Issue 71 - Can I take money out?
- No, you cannot take money out until the Bond reaches the end of its term
- Is the interest taxable?
- Yes, in the tax year your Bond matures
- How much can I start with?
- £500 for each Bond you buy
- What’s the max. I can save?
- £1 million per person in each Issue
Great for you if …
- You want a guaranteed interest rate, for a fixed term
- You have £500 or more to invest
- You are happy to invest online
Not for you if …
- You want access to your money during the term
- You prefer to invest by phone or by post
Guaranteed Growth Bonds FAQs
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In the Spring Budget 2024 the Chancellor of the Exchequer announced that he wanted to help encourage people to save for the longer term with our two fixed-term Bonds from NS&I. He referred to ‘British Savings Bonds’ as an umbrella term for the two Bonds on offer, which are Guaranteed Growth Bonds and Guaranteed Income Bonds.
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Our Guaranteed Growth Bonds are designed to be invested in online. However, if you can’t invest online, please call us and we’ll let you know your options.
Call us
Learn more about getting extra support
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No, once you’ve bought a fixed-term Bond, you can’t add any more money to it.
You can buy more Bonds though if they are still on sale, up to a total value of £1 million per person in each Issue.
Each Bond you buy is a separate investment with its own maturity date.
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No. Once you invest, you won’t be able to access your money until your Bond reaches the end of its term, but in return you’ll be guaranteed a fixed rate of interest for the term.
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The interest you earn on Guaranteed Growth Bonds will count towards your taxable income in the tax year your Bond matures. 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.
Paying tax on your savings
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Yes. We’ll ask you as part of your application if you’d like to invest with someone else. You’ll each get your own log-in details so you can both view and manage your Bond.
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Yes. If you have an NS&I Direct Saver, you can apply online for a Guaranteed Growth Bond and pay for it from your Direct Saver.
If you want to use another NS&I account to pay for your Guaranteed Growth Bond, you'll need to complete a switching form.
Form to switch to a Guaranteed Growth Bond -
If you change your mind after you invest, you can cancel within 30 days of receiving confirmation of your Bond. You can do this online or by phone, or you can write to us.
We'll refund your money, plus any interest earned, within 14 days of cancellation.
Can't find what you're looking for?
Applying for Guaranteed Growth Bonds
- Before you apply
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Please read the summary box and customer agreement (below).
- What you'll need
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- 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 UK debit card
If applying jointly, you’ll also need the following info from the second investor:
- Their NS&I number (if they have one)
- Their address and date of birth
- What happens next
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We’ll process your application and aim to open your account in 7-10 working days. If applying jointly, we’ll contact the second investor by post.
We'll need to check the identity and address of everyone named on the application. To do this, we may ask you to upload or send us some documents.
Documents that prove your identity and address
Summary box
- Account name
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NS&I Guaranteed Growth Bonds
- What's the interest rate?
-
1-year term, Issue 79
4.50% gross/AER3-year term, Issue 71
4.15% gross/AERWe calculate the interest daily and add it to your Bond on each anniversary of your investment.
- Can NS&I change the interest rate?
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You’ll receive the rate on offer at the time you start a new investment term, and that rate will be fixed for the length of your chosen term. We can change the fixed rates on offer at any time. Each time we change the rate on offer we release a new Issue of Bonds. We can also withdraw any Issue from sale without notice.
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What would the estimated balance be at the end of the term based on a £1,000 deposit?
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1-year term, Issue 79
A £1,000 deposit would be worth £1,045.00 at the end of the 1-year term.3-year term, Issue 71
A £1,000 deposit would be worth £1,129.74 at the end of the 3-year term.These are illustrations only, so it doesn’t take into account your individual circ*mstances.
- How do I open and manage my account?
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Our Guaranteed Growth Bonds are for customers aged 16 or over. You can invest in Bonds in your own name or jointly with one other person.
You can:
- apply for, and manage, your Guaranteed Growth Bonds online only
- invest at least £500, paid by a debit card in your own name, issued by a UK bank
- invest up to a total of £1 million per person
If you want to switch to Guaranteed Growth Bonds from another NS&I account or investment, visit:
Downloads and forms
or
Call us
- Can I withdraw money?
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No, Guaranteed Growth Bonds are a fixed term investment that has to be held for the full term. This means that you won’t be able to access your money until it matures.
We’ll contact you to let you know your options at least 30 days before your Bond matures.
- Additional information
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We add your interest without deducting any tax. However, the interest is taxable so it will count towards your Personal Savings Allowance in the tax year that your Bond matures.
Find out more about tax and savings
We’ll send you a statement in April each year, showing the interest you’ve earned and your balance. You can choose to receive your statements electronically or by post.
- Definitions
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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.
Summary box
Customer agreement
Apply now
Switch to a Guaranteed Growth Bond
Please read the summary box below before switching to this account.
Summary box
- Account name
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NS&I Guaranteed Growth Bonds
- What's the interest rate?
-
1-year term, Issue 79
4.50% gross/AER3-year term, Issue 71
4.15% gross/AERWe calculate the interest daily and add it to your Bond on each anniversary of your investment.
- Can NS&I change the interest rate?
-
You’ll receive the rate on offer at the time you start a new investment term, and that rate will be fixed for the length of your chosen term. We can change the fixed rates on offer at any time. Each time we change the rate on offer we release a new Issue of Bonds. We can also withdraw any Issue from sale without notice.
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What would the estimated balance be at the end of the term based on a £1,000 deposit?
-
1-year term, Issue 79
A £1,000 deposit would be worth £1,045.00 at the end of the 1-year term.3-year term, Issue 71
A £1,000 deposit would be worth £1,129.74 at the end of the 3-year term.These are illustrations only, so it doesn’t take into account your individual circ*mstances.
- How do I open and manage my account?
-
Our Guaranteed Growth Bonds are for customers aged 16 or over. You can invest in Bonds in your own name or jointly with one other person.
You can:
- apply for, and manage, your Guaranteed Growth Bonds online only
- invest at least £500, paid by a debit card in your own name, issued by a UK bank
- invest up to a total of £1 million per person
If you want to switch to Guaranteed Growth Bonds from another NS&I account or investment, finish reading the information on this page and then use the button at the bottom.
- Can I withdraw money?
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No, Guaranteed Growth Bonds are a fixed term investment that has to be held for the full term. This means that you won’t be able to access your money until it matures.
We’ll contact you to let you know your options at least 30 days before your Bond matures.
- Additional information
-
We add 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 April each year, showing the interest you’ve earned and your balance. You can choose to receive your statements electronically or by post.
- Definitions
-
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 switching.
Summary box
Customer agreement
You’ll need the following information to hand:
- your NS&I number (if you have one)
- the type of account you’re switching from
- the associated account or holder’s number
Switch now
Switch to a Guaranteed Growth Bond
You can switch to a Guaranteed Growth Bond from another NS&I account easily online, without having to log in.
- Switch to a Guaranteed Growth Bond – individual account
- Switch to a Guaranteed Growth Bond – joint account
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No thanks, I want to download and print a form to post to you.
Switch to a Guaranteed GrowthBond
Please read the below Summary Box below before switching to this joint account.
Summary box
- Account name
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NS&I Guaranteed Growth Bonds
- What's the interest rate?
-
3-year term, Issue 71
4.15% gross/AER
We calculate the interest daily and add it to your Bond on each anniversary of your investment.
- Can NS&I change the interest rate?
-
You’ll receive the rate on offer at the time you start a new investment term, and that rate will be fixed for the length of your chosen term. We can change the fixed rates on offer at any time. Each time we change the rate on offer we release a new Issue of Bonds. We can also withdraw any Issue from sale without notice.
-
What would the estimated balance be at the end of the term based on a £1,000 deposit?
-
A £1,000 deposit would be worth £1,129.74 at the end of the 3-year term.
This is an illustration only, so it doesn’t take into account your individual circ*mstances. It assumes that you don’t make any withdrawals or additional deposits during the year.
- How do I open and manage my account?
-
Our Guaranteed Growth Bonds are for customers aged 16 or over. You can invest in Bonds in your own name or jointly with one other person.
You can:
- apply for, and manage, your Guaranteed Growth Bonds online only
- invest at least £100, paid by a debit card in your own name, issued by a UK bank
- invest up to a total of £100,000 per person
If you want to switch to Guaranteed Growth Bonds from another NS&I account or investment, you’ll need to print and fill in our switching form before posting it back to us.
Switch to Guaranteed Growth Bonds
Or call us, and we’ll send you a form by post
- Can I withdraw money?
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No, Guaranteed Growth Bonds are a fixed term investment that has to be held for the full term. This means that you won’t be able to access your money until it matures.
We’ll contact you to let you know your options at least 30 days before your Bond matures.
- Additional information
-
We add 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 April each year, showing the interest you’ve earned and your balance. You can choose to receive your statements electronically or by post.
- Definitions
-
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.
Summary box
Customer agreement
You’ll need the following information to hand:
- your NS&I number (if you have one)
- the type of account you’re switching from
- the associated account or holder’s number
Switch now
Top up your Guaranteed Growth Bonds
If you already have an account with us, you can top it up whenever you like.
- Top up by bank transfer
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When you pay by bank transfer, you're confirming your bank account is a UK account in your name.
- Reference:
- You must enter your Guaranteed Growth Bonds account number (not your NS&I number) as the reference. You can find your account number on your statement or by logging in online.
- Type of account:
- Your bank may ask you what type of account you’re paying in to. Please select ‘business’.
- Payee name:
- NS&I
- Account number:
- 11994808
- Sort code:
- 08 31 35
Download these details
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.
Topped up by bank transfer or standing order? You’ll be able to see the money in your account in 2-3 working days.
For more information on topping up by bank transfer see our FAQs
FAQs
- Top up by debit card
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Top up your Guaranteed Growth Bonds using your debit card
Top up your account
We’ll show you the Guaranteed Growth Bonds summary box and ask you to read our customer agreement.
More ways to save
Green Savings Bonds
2.95% gross/AER
3-year fixed, Issue 7
Go green with our new fixed-rate, fixed-term Bonds.
Invest from £100 to £100,000.
Guaranteed Income Bonds (British Savings Bonds)
4.41% gross/4.50% AER,
1-year fixed, Issue 79
4.07% gross/4.15% AER,
3-year fixed, Issue 71
Earn guaranteed monthly income for a fixed term.
Invest from £500 to £1 million.
Premium Bonds
4.40% annual prize fund rate, variable
A fun way to save, with the chance to win tax-free prizes each month.
Invest from £25 to £50,000.
