NS&I Guaranteed Growth Bonds Now Available
Key Features
- 2.20% gross/AER, fixed for 3 years
- Available online only at NS&I.com
- Open to savers aged 16 and over with a UK bank account
- Minimum investment £100 and maximum £3,000 per person
- A penalty of 90 days’ interest will apply on withdrawals before the end of the 3 year term
- Interest is taxable (so will count towards the Personal Savings Allowance) but paid gross
- Backed by HM Treasury
Who Are the Bonds Suitable For?
Due to the fixed term the bonds would only be appropriate for investors who can leave their money invested for three years. They may appeal to those seeking a known rate of return in a secure investment, however, the relatively modest maximum investment amount limits the effectiveness for those with large sums of money in cash. With interest being added annu