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You're in safe hands
Most banks only guarantee your savings up to £85,000. We’re the only provider that secures 100% of your savings, however much you invest.
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Trusted by millions
We're backed by HM Treasury and we've been helping people save for over 160 years. Today, over 24 million customers save with us.
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The home of Premium Bonds
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.
Interest rates
Premium Bonds prize fund rate
Until the December 2024 prize draw
| Odds per £1 Bond number | Annual prize fund rate | Tax information |
|---|---|---|
| 22,000 to 1 | 4.15% variable |
All prizes are tax-free |
From the January 2025 prize draw
| Odds per £1 Bond number | Annual prize fund rate | Tax information |
|---|---|---|
| 22,000 to 1 | 4.00% variable |
All prizes are tax-free |
The rate and the odds are variable.
Variable rates
Direct ISA
| Amount | Interest rate | Tax information |
|---|---|---|
| £1+ | 3.00% tax-free/AER, variable | Tax-free |
Direct Saver
Until 19 December 2024| Amount | Interest rate | Tax information |
|---|---|---|
| £1+ | 3.75% gross/AER, variable | Taxable, paid gross |
| Amount | Interest rate | Tax information |
|---|---|---|
| £1+ | 3.50% gross/AER, variable | Taxable, paid gross |
Income Bonds
Until 19 December 2024
From 20 December 2024
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | 3.69% gross/3.75% AER, variable | Taxable, paid gross |
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | 3.44% gross/3.49% AER, variable | Taxable, paid gross |
We round each month’s interest up or down to the nearest penny.
Investment Account
| Amount | Interest rate | Tax information |
|---|---|---|
| £1+ | 1.00% gross/AER, variable | Taxable, paid gross |
Junior ISA
| Amount | Interest rate | Tax information |
|---|---|---|
| £1+ | 4.00% tax-free/AER, variable | Tax-free |
Fixed-term rates
Guaranteed Growth Bonds (British Savings Bonds)
2-year fixed rate
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | Issue 71: 4.10% gross/AER, fixed for 2 years | Taxable, paid gross |
3-year fixed rate
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | Issue 73: 4.00% gross/AER, fixed for 3 years | Taxable, paid gross |
5-year fixed rate
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | Issue 65: 3.90% gross/AER, fixed for 5 years | Taxable, paid gross |
Guaranteed Income Bonds (British Savings Bonds)
2-year fixed rate
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | Issue 71: 4.02% gross/4.09% AER, fixed for 2 years | Taxable, paid gross |
3-year fixed rate
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | Issue 73: 3.93% gross/4.00% AER, fixed for 3 years | Taxable, paid gross |
5-year fixed rate
| Amount | Interest rate | Tax information |
|---|---|---|
| £500+ | Issue 65: 3.83% gross/3.90% AER, fixed for 5 years | Taxable, paid gross |
Green Savings Bonds
| Amount | Interest rate | Tax information |
|---|---|---|
| £100+ | Issue 7: 2.95% gross/AER, fixed for 3 years | Taxable, paid gross |
Renewal rates for maturing fixed term investments
If you have one of our fixed term investments that is about to mature, we’ll contact you around a month before the maturity date to let you know your options and the current renewal rates.
If you choose to renew your investment for another term of the same length, you’ll receive the rate we quote in your letter, even if our rates go down before your maturity date. If you renew for a different term, you’ll receive the rate on offer on the date your investment matures. Bear in mind that this could be higher or lower than the rate in the summary box we send you.
Historical interest rates
We are committed to keeping you informed and up to date on changes in the interest rates for our variable rate accounts and investments over at least the previous 12 months. We have also included the interest rates for our fixed term investments.
Residual Account
If we close one of our Bonds or Accounts and can't trace you to return your money, we will transfer your money to our Residual Account.
| Type | Holdings | Interest rate | Tax information |
|---|---|---|---|
| A - interest bearing for £1+ | Children’s Bonds Matured 6-month and 18-month terms of Guaranteed Growth Bonds and Guaranteed Income Bonds Easy Access Savings Account Ordinary Account Deposit Bonds Yearly Plan SAYE Treasurer's Account Pensioners Guaranteed Income Bonds Capital Bonds |
0.25% gross/AER, variable | Taxable, paid gross |
| B - non-interest bearing | Gift Tokens Savings Stamps British Savings Bonds (1968) |
0% |
Definitions
| Tax-free | AER | Gross |
| means that interest or prizes are exempt from UK Income Tax and Capital Gains Tax. | (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. | is the taxable rate of interest without the deduction of UK Income Tax. |