Our interest rates /

Current interest rates

This table gives a summary of the current interest rates including, if applicable, those for variable rate products that have been announced but have not yet come into effect.

For full details of the rates for each product, including year by year rates for Savings Certificates and Children's Bonus Bonds, click on its name.

As well as the range of Certificates, Bonds and accounts listed below, we also offer a Guaranteed Equity Bond which is available in limited Issues. It offers stock market growth potential with no risk to your capital.

Please note, we no longer give three months notice when we change the Premium Bond prize fund rate or the odds. See latest terms and conditions.

		Product		Annual rate		Tax status
		Variable rates
		Premium Bonds
		Annual rate used to calculate prize fund for monthly draws		1.80%		All prizes are tax-free
		Odds per £1 unit		36,000 to 1
		Direct ISA
		Current Direct ISA details:		3.30% AER		Tax-free
		Cash ISA
		Current Mini-ISA details:		2.40% AER		Tax-free
		Easy Access Savings Account
				1.45% - 2.20% gross/AER		Taxable, paid gross
		Income Bonds
				2.45% - 2.70% gross 2.48% - 2.73% AER		Taxable, paid gross
		Investment Account
				1.00% - 1.90% gross/AER		Taxable, paid gross
		Fixed rates
		Fixed Interest Savings Certificates 2-year 44th Issue Guaranteed compound rate over 2 years		2.95% AER		Tax-free
		Fixed Interest Savings Certificates 5-year 93rd Issue Guaranteed compound rate over 5 years		2.95% AER		Tax-free
		General Extension Rate Earned on 7th to 43rd issue Fixed Interest Savings Certificates that matured before 8 October 2001 and on Yearly Plan, for each complete period of three months		0.51% AER		Tax-free
		Index-linked Savings Certificates 3-year 18th Issue Guaranteed compound rate over 3 years		Index-linking + 1.00% AER		Tax-free
		Index-linked Savings Certificates 5-year 45th Issue Guaranteed compound rate over 5 years		Index-linking + 1.00% AER		Tax-free
		Guaranteed Growth Bonds 1-year Issue 45 Guaranteed rate for first year		4.20% gross/ AER		Taxable, paid net
		Guaranteed Growth Bonds 3-year Issue 39 Guaranteed rate for first 3 years		4.00% gross/ AER		Taxable, paid net
		Guaranteed Growth Bonds 5-year Issue 36 Guaranteed rate for first 5 years		4.00% gross/ AER		Taxable, paid net
		Guaranteed Income Bonds 1-year Issue 45 Guaranteed rate for first year		4.10% gross/ 4.18% AER		Taxable, paid net
		Guaranteed Income Bonds 3-year Issue 39 Guaranteed rate for first 3 years		3.90% gross/ 3.97% AER		Taxable, paid net
		Guaranteed Income Bonds 5-year Issue 36 Guaranteed rate for first 5 years		3.90% gross/ 3.97% AER		Taxable, paid net
		Children's Bonus Bonds Issue 31 Guaranteed compound rate over 5 years, inc. 5th anniversary bonus		3.70% AER		Tax-free
		Products no longer on sale
		Ordinary Account
		From 01 May 2008:		Under £500 - 1.35% gross/AER		No tax on first £70
				£500+ - 1.45% gross/AER		interest each year
		T Cash ISA
				£1+ - 2.40% AER		Tax-free

Residual Account
Where an NS&I product has been closed and we have been unsuccessful in our efforts to return the monies invested to our customer, such remaining holdings are transferred to the Residual Account. There are two types of holdings within the Residual Account. Type A which are interest bearing; and Type B which are non-interest bearing.

	Amount	Interest rate	Tax information
Type A: (Ordinary Account, Deposit Bonds, Yearly Plan, SAYE and Treasurer's Account)	£1+	0.25% gross/AER	Taxable, paid gross
Type B: (Gift Tokens; Savings Stamps and British Savings Bonds)		0%

Definitions

Tax-free means the interest and prizes are exempt from UK Income Tax and Capital Gains Tax.

Gross is the taxable rate of interest without the deduction of UK Income Tax.

Net is the rate of interest payable after the deduction of UK Income Tax at the rate specified by law (currently 20.00%).

AER (Annual Equivalent Rate) is a notional rate that 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.