NS&I increases interest rates across savings bonds - full list here

The move represents a notable departure from the broader financial landscape, where providers have been trimming rates following successive Bank of England base rate reductions.

Fixed-term savers can now access improved returns, though minimum deposits of £500 apply with maximum investments capped at £1million per person for each issue.

These accounts require funds to remain locked away for the entire term, with no option for early access.

Latest NS&I Guaranteed Bond Rates (from November 7 2025)

Here is a list of updated interest rates for NS&I Guaranteed Growth and Income Bonds now on general sale:

Guaranteed Growth Bonds

• 1-year (Issue 87) – 4.20 per cent gross/AER (previously 4.40 per cent)
• 2-year (Issue 86) – 4.10 per cent gross/AER (previously 4.25 per cent)
• 2-year (Issue 75) – 4.10 per cent gross/AER (previously 3.90 per cent)

Guaranteed Income Bonds

• 1-year (Issue 77) – 4.05 per cent gross / 4.15 per cent AER (previously 3.75 per cent gross / 3.85 per cent AER)
• 2-year (Issue 76) – 4.16 per cent gross / 4.26 per cent AER (previously 3.88 per cent gross / 3.98 per cent AER)
• 3-year (Issue 73) – 4.15 per cent gross / 4.25 per cent AER (previously 3.85 per cent gross / 3.95 per cent AER)
• 5-year (Issue 69) – 4.08 per cent gross / 4.15 per cent AER (previously 3.78 per cent gross / 3.84 per cent AER)

Mr Andrew Westhead, NS&I retail director, said: "I'm pleased that we can offer increased interest rates on these fixed-term products, giving savers who want guaranteed returns a choice in how they invest, while continuing to benefit from the security of the 100 per cent Government guarantee. "

The products maintain their Treasury-backed security, protecting deposits in full regardless of amount.

Financial services experts suggest the timing reflects strategic fundraising efforts by NS&I.

Sarah Coles, head of personal finance at Hargreaves Lansdown, said: "NS&I has pulled out all the stops and made fairly chunky increases across the board.

"This flies in the face of cuts elsewhere in the market, so it's clearly a major effort to raise funds."

The increases arrive as numerous fixed-term accounts reach maturity, potentially releasing substantial sums seeking new homes.

Market conditions have seen steady downward pressure on savings rates following monetary policy decisions, with Thursday’s closely contested Bank of England vote signalling further reductions ahead.

Ms Coles said: "The fact NS&I has taken a step in the opposite direction is highly likely to be driven by a desire to get more money in through the door, to meet its funding targets."

Despite the improvements, these rates remain outside the most competitive offerings available.

She added: "You can still do better elsewhere though," highlighting that none of the enhanced NS&I products feature among the top ten accounts for any term length.

Superior returns can typically be found through internet-based banks and dedicated savings platforms.

For those managing substantial deposits exceeding £85,000, cash savings platforms present an efficient solution, enabling funds to be distributed across multiple institutions through a single application process.

Ms Coles said: "Cash savings platforms let you spread your money across accounts with a number of different banks, with one application.

"You can also manage it all in one place, so you don't need to rely on NS&I unless you really want to."