An easy access savings account that pays your interest monthly, direct to your bank.
If you opened your account by debit card between the 20th of a month and the 5th of the following month, your deposit won’t show in your balance until the next banking day after the 5th. This is because we use this period to start calculating and preparing all the monthly interest payments.
You will, however, be able to see your deposit in the ‘Pending transactions’ section of your online account.
Need more info? Find out how to check if we’ve received your money.
We calculate your monthly interest between the 20th and 5th of each month, so top-ups made during this period may not show in your account until the 6th. You’ll still be able to withdraw from your available balance during this time.
The minimum you can take out is £500. At least £500 must stay in your account to keep it open.
To take money out, you can:
Not registered? You can also cash in Income Bonds online without having to create an account.
Cash in my Income BondsYou’ll need your NS&I or account number and bank account details to hand.
Or send us a withdrawal form.
Yes! Just fill out a quick online form and we’ll get it sorted for you. Be sure to have the details of the account you want to switch from to hand.
Switch to Income BondsEach year, we’ll send you a statement that sets out how much interest you’ve earned.
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.
Each year, we’ll send you a statement that sets out how much interest you’ve earned.
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’ll each get your own login details so you can manage your account.
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. When the rate changes, we’ll update our website and literature as soon as we can. If the rate goes down we’ll also contact you personally in advance to let you know.
Please read the summary box and customer agreement (below).
If applying jointly, you’ll also need the following info from the second investor:
Before we can accept your application, we’ll need to check and confirm the identity and address of everyone on the application. To do this, we may ask you to upload or send us some documents.
We’ll aim to open your account in 7 to 10 working days. This can take longer if we need to ask you for identity documents.
Documents that prove your identity and addressIncome Bonds
3.26% gross/3.30% AER, variable
We calculate the interest daily and add it to your bank account on the 5th of each month or the next working day if the 5th is a weekend or bank holiday.
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.
When the rate changes, we’ll update our website and literature as soon as we can. If the rate goes 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 earn £32.60 after 12 months, if the interest rate stayed at 3.26% gross/3.30% AER% during the 12 months.
The interest is paid out monthly so the balance would remain at £1,000.
These are illustrations 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 Income Bonds account is for customers aged 16 or over. You can open an account in your own name or jointly with one other person. You can also invest in trust for someone else.
You can:
If you want to switch to Income 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.
Yes, you can take out money online, by phone or by post with no notice or penalty. The minimum withdrawal is £500 and you need to keep a balance of at least £500 to keep your account open.
Withdrawals can take 3-5 days to reach your bank account.
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 an electronic statement in April each year, showing all your transactions and interest. Or you can receive your statements by post if you prefer.
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.
Apply nowIf you already have an account with us, you can top it up whenever you like.
Just give this info to your bank, telling them how much to transfer and how often. You can normally do this online, by phone or in a branch. All deposits must be at least £500, from a UK bank account in your own name.
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
Top up your Income Bonds using your UK debit card
Top up by debit cardPlease read the summary box below before switching to this account.
NS&I Income Bonds
3.26% gross/3.30% AER, variable
We calculate the interest daily and add it to your bank account on the 5th of each month or the next working day if the 5th is a weekend or bank holiday.
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.
When the rate changes, we’ll update our website and literature as soon as we can. If the rate goes 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 earn £32.60 after 12 months, if the interest rate stayed at 3.26% gross/3.30% AER% during the 12 months.
The interest is paid out monthly so the balance would remain at £1,000.
This is an illustrations 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 Income Bonds account is for customers aged 16 or over. You can open an account in your own name or jointly with one other person. You can also invest in trust for someone else.
You can:
If you want to switch to Income Bonds from another NS&I account or investment, finish reading the information on this page and then use the button at the bottom.
Yes, you can take out money online, by phone or by post with no notice or penalty. The minimum withdrawal is £500 and you need to keep a balance of at least £500 to keep your account open.
Withdrawals can take 3-5 days to reach your bank account.
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 an electronic statement in April each year, showing all your transactions and interest. Or you can receive your statements by post if you prefer.
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.
You’ll need the following information to hand:
3.80% 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.
3.30% gross/AER, variable
An easy access savings account that pays your interest yearly, to top up your savings.
Invest from £1 to £2 million.
4.00% tax-free/AER, variable
A tax free way to save for children up to the age of 18.
Invest from £1 to £9,000 in the tax year 2025/26.
If you, or someone whose account you look after, need extra support we're here to help
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.
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.
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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We’re carrying out some essential maintenance on our systems.
Our online forms are currently unavailable
Thank you for your patience.
We’re carrying out some essential maintenance on our systems.
Our online service is currently unavailable
Thank you for your patience.
We’re carrying out some essential maintenance on our systems.
Our online service is currently unavailable
Thank you for your patience.